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Trend Signals Remain Bullish

USDJPY TECHS
  • RES 4: 156.47 2.00 proj of the Feb 1 - 13 - Mar 8 price swing
  • RES 3: 155.29 1.764 proj of the Feb 1 - 13 - Mar 8 price swing
  • RES 2: 155.00 Round number resistance
  • RES 1: 154.79 High Apr 16
  • PRICE: 154.32 @ 06:56 BST Apr 19
  • SUP 1: 152.98 Low Apr 15
  • SUP 2: 152.55/150.88 20- and 50-day EMA values
  • SUP 3: 149.03 Low Mar 19
  • SUP 4: 147.44 Low Mar 14

USDJPY bulls have paused for breath. The break higher last week confirmed a resumption of the primary uptrend and maintains the bullish price sequence of higher highs and higher lows. The trend is overbought, however, this is clearly not a concern for bulls at this stage. Moving average studies are in a bull mode position too. Sights are on the 155.00 handle next. Support lies at 152.55, 20-day EMA.

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  • RES 4: 156.47 2.00 proj of the Feb 1 - 13 - Mar 8 price swing
  • RES 3: 155.29 1.764 proj of the Feb 1 - 13 - Mar 8 price swing
  • RES 2: 155.00 Round number resistance
  • RES 1: 154.79 High Apr 16
  • PRICE: 154.32 @ 06:56 BST Apr 19
  • SUP 1: 152.98 Low Apr 15
  • SUP 2: 152.55/150.88 20- and 50-day EMA values
  • SUP 3: 149.03 Low Mar 19
  • SUP 4: 147.44 Low Mar 14

USDJPY bulls have paused for breath. The break higher last week confirmed a resumption of the primary uptrend and maintains the bullish price sequence of higher highs and higher lows. The trend is overbought, however, this is clearly not a concern for bulls at this stage. Moving average studies are in a bull mode position too. Sights are on the 155.00 handle next. Support lies at 152.55, 20-day EMA.