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Apr 12 - 05:55 AM

USD/JPY - Bid Holding But Market Stretched

By Peter Stoneham  —  Apr 12 - 04:40 AM

  • Tighter price action with a bid holding just below Mon's 125.77 high

  • Uptrend neared 2015's 125.86 peak, the highest level since 2002

  • Also closing on the 161.8% off the Mar. 31 base

  • Last nearby hurdle past 125.86 is the 161.8% Fibo off 2021's base at 126.33

  • Still no sell signal, but would need a decent discount to buy

  • Our bid is now by the April 6 and 7 lows and rising 200-HMA

  • Chart s taken off EBS prices

    For more click on FXBUZ









USD/JPY daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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