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Watching Resistance

USDJPY TECHS
  • RES 4: 153.39 1.382 proj of the Feb 1 - 13 - Mar 8 price swing
  • RES 3: 153.00 Round number resistance
  • RES 2: 152.66 1.236 proj of the Feb 1 - 13 - Mar 8 price swing
  • RES 1: 151.97 High Mar 27
  • PRICE: 151.34 @ 06:39 GMT Mar 28
  • SUP 1: 150.13/149.13 20- and 50-day EMA values
  • SUP 2: 147.44 Low Mar 14
  • SUP 3: 146.49 Low Mar 08 / 11 and key support
  • SUP 4: 145.90 Low Feb 1

USDJPY remains in consolidation mode and the recent pause appears to be a flag - a bullish continuation pattern. MA studies remain in a bull-mode position and this continues to highlight a clear uptrend. Sights are on 151.91/95, the Nov 13 high and Oct 1 ‘22 highs respectively. The resistance has been tested, a clear break would resume the long-term uptrend and open 152.66, a Fibonacci projection. Support is at 150.13, the 20-day EMA.

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  • RES 4: 153.39 1.382 proj of the Feb 1 - 13 - Mar 8 price swing
  • RES 3: 153.00 Round number resistance
  • RES 2: 152.66 1.236 proj of the Feb 1 - 13 - Mar 8 price swing
  • RES 1: 151.97 High Mar 27
  • PRICE: 151.34 @ 06:39 GMT Mar 28
  • SUP 1: 150.13/149.13 20- and 50-day EMA values
  • SUP 2: 147.44 Low Mar 14
  • SUP 3: 146.49 Low Mar 08 / 11 and key support
  • SUP 4: 145.90 Low Feb 1

USDJPY remains in consolidation mode and the recent pause appears to be a flag - a bullish continuation pattern. MA studies remain in a bull-mode position and this continues to highlight a clear uptrend. Sights are on 151.91/95, the Nov 13 high and Oct 1 ‘22 highs respectively. The resistance has been tested, a clear break would resume the long-term uptrend and open 152.66, a Fibonacci projection. Support is at 150.13, the 20-day EMA.