USDJPY is slipping further off weekly highs. A continuation of this theme would confirm the move higher as corrective, and has allowed an oversold trend condition to unwind. Key short-term resistance is seen at 154.51, the 50-day EMA. It has been pierced, a clear breach of the average would highlight a stronger reversal of the Jan 10 - Feb 7 bear leg. This would open 155.89, the Feb 3 high. Key support and bear trigger is unchanged at 150.93, the Feb 7 low.
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