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Oct 04 - 04:55 PM

USD/JPY - Techs Show Scope For Bigger Pullback Before New Trend Highs

By Content Admin  —  Oct 04 - 03:00 PM
  • USD/JPY fell back below the 10-DMA at 144.15 on Tuesday

  • Drop is being squeezed toward the rising 21-DMA at 143.75

  • Massively widened 21-day Bolli band spreads collapse targets 21-DMA next

  • Key supports are the tenkan and kijun lines, last at 143.10 and 141.97

  • A 145+ close is needed to resume the rise toward 1998's 147.64 peak

  • 145 was trend high prior to 145.90 peak and 100% Fibo off of Aug's base

  • Value bid above the tenkan in lieu of a 145+ close buy signal

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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