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USDJPY Growing Threat Of Test To Key 102.22/28/36 Barriers

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USDJPY Growing Threat Of Test To Key 102.22/28/36 Barriers

USDJPY positive range theme aims higher; risk of shift to more bullish tone

·         We have stated in client reports this week that “within the range, the risk is skewed higher this week, for 102.00 and maybe then to key resistance at 102.23/36!”

·         The push above the lower level has signalled a more constructive tone to the range theme with risk through midweek for a challenge to barriers clustered at 102.22/28/36.

·         Only above the higher level would signal a more bullish shift and we see a likely stall here on a first test.

·         Only back below 101.70/65 set a more defensive range theme.


·         Upside: Above 102.36 signals a bull tone for 102.65 and 102.80 targets.

·         Downside: Below 101.06 signals a bear tone for 100.75 and 100.00 targets.


Please see full report with levels and latest screencast here:



4 Hour USDJPY Chart


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Tagged in: Forex FX USD USDJPY Yen

Steve Miley is The Market Chartist and has over two decades of financial market experience with him. He spent 2009-2012 as a Director of the FX Technical Analysis Research Strategy team at Credit Suisse and was previously at Merrill Lynch for 15 years; 10 years as a technical analyst, 5 years in Fixed Income sales.

He was 2013 winner of the Technical Analyst Magazine Award for Best Independent Fixed Income Research & Strategy, Runner Up for the same award in 2014 and was the winner of Best FX Research & Strategy 2012 (at Credit Suisse).

Steve is a Member of the Society of Technical Analysts (MSTA) and holds a Masters Degree in Politics, Philosophy & Economics from Lincoln College, Oxford University.

Steve has covered all major asset classes including Rates & Credit, G10 & EM currencies, Equity Indices & Sectors and Commodities and has strong relationships across the institutional financial trading spectrum, including Central Banks, Real Money accounts, Hedge Funds and other Global Corporates.



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