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USDJPY TECHS: MA Studies Remain In A Bear-Mode Position

USDJPY TECHS
  • RES 4: 155.22 High Jul 30   
  • RES 3: 152.19 50-day EMA
  • RES 2: 150.89 High Aug 1     
  • RES 1: 148.70 20-day EMA   
  • PRICE: 145.89 @ 16:46 BST Aug 22
  • SUP 1: 144.29 Low Aug 7   
  • SUP 2: 141.70/140.82 Low Aug 5 and the bear trigger / Low Jan 2
  • SUP 3: 140.25 Low Dec 28 ‘23 and a key support
  • SUP 4: 138.07 Low Dec 28   

USDJPY continues to trade below the Aug 15 high, and firm resistance at the 20-day EMA is intact. The trend structure is bearish and MA studies remain in a bear-mode set-up. A stronger reversal lower would refocus attention on key support at 141.70, the Aug 5 low. Clearance of this level would confirm a resumption of the  bear trend. Resistance to watch is 148.70, the 20-day EMA. A break would signal scope for a stronger correction.    

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