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Jul 21 - 04:55 AM

USD/JPY - Chart Very Constructive, Expect Gains

By Martin Miller  —  Jul 21 - 02:35 AM
  • USD/JPY will likely launch an attack the Sept 1998 139.95 high eventually

  • Daily tenkan and kijun lines are positive aligned, underlying bullish market

  • Fourteen-day momentum is also positive, another bullish sign

  • We are long at 137.60 for gains to 139.20, stop now under Tue's 137.38 low

  • Bears need a daily close under 137.52 Fibo, 23.6% of 131.49-139.38 rise

  • EUR/JPY sees a 140.80-141.42 Wednesday range so far, according to EBS data

  • USD/JPY Trader TGM2336. Previous USD/JPY update nL1N2Z10EA

Source:
Refinitiv IFR Research/Market Commentary

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