USDJPY retested resistance at 93.90/94.05 but stretched to 94.22. This could hold again today & we may hover below this point today as we build a medium term topping pattern. Only just above here we hit 94.36/46 highs for the bull run where we can try shorts looking for a top as daily & shorter term charts are calling for a move back to 92.30/15. Stop needed above 94.55 however, to target 2010 highs at 94.80/94.99. If this does not hold us back look for 95.29.

Immediate support is at 93.75 then 93.46 but below 93.20 we should test 93.00. This should provide a floor today but below 92.65 we should retest Feb lows at 92.23/17.



Long term levels

95.86     Weekly 78.6% Fibonacci

94.46     Last Week’s high

93.99     Monthly 38.2% Fibonacci

92.23     Last Week’s Low

91.48     Weekly 61.8% Fibonacci

86.86     Monthly 23.6% Fibonacci


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