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Trendline Support Remains Exposed

USDJPY TECHS
  • RES 4: 152.20 3.00 proj of the Jul 14 - 21 - 28 price swing
  • RES 3: 150.78/51.95 High Nov 17 / High Oct 21 ‘22 - major resistance
  • RES 2: 149.75 High Nov 22 and key short-term resistance
  • RES 1: 148.51 High Nov 30
  • PRICE: 147.32 @ 19:44 GMT Dec 4
  • SUP 1: 146.23 Loe Dec 4
  • SUP 2: 145.91 Low Sep 11
  • SUP 3: 144.45 Low Sep 1
  • SUP 4: 142.85 61.8% of the Jul 14 - Nov 13 bull run

USDJPY maintains a softer tone. The pair traded lower last week and breached 147.15, the Nov 21 low. The move lower highlights a resumption of the bear cycle that started Nov 13. Attention is on a key support at 146.76, a trendline drawn from the Mar 24 low. This line was breached Monday. A clear break would signal a stronger reversal and open 145.91, the Sep 11 low. Key short-term resistance to watch is 148.51, the Nov 30 high.

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