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USDJPY TECHS: Resistance At The 20-Day EMA Remains Intact

USDJPY TECHS
  • RES 4: 153.88 High Jul 31   
  • RES 3: 151.09 50-day EMA
  • RES 2: 149.38 High Aug 15     
  • RES 1: 147.38 20-day EMA   
  • PRICE: 144.41 @ 16:33 BST Aug 28
  • SUP 1: 143.45 Low Aug 26    
  • 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 the 20-day EMA. The trend structure is unchanged, it remains bearish and moving average studies are in a bear-mode set-up. A stronger reversal lower would open key support at 141.70, the Aug 5 low. Clearance of this level would confirm a resumption of the bear trend. Key near-term resistance is at 147.38, the 20-day EMA. A break would instead signal scope for a stronger correction.    

USForeign Exchange Technical AnalysisGlobalAPACJapanBulletMarketsForeign Exchange BulletsRegionNorth America

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