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Apr 09 - 03:55 AM

USD/JPY - Holding Pattern Extends For A Fifteenth Day

By Peter Stoneham  —  Apr 09 - 02:35 AM
  • USD/JPY is by the 152 topside threshold for a 15th straight day

  • Fri's brief sub-151 dip was bought with Mon's high at 151.945 on EBS

  • However, fourteen day momentum is poised to flip negative

  • 13-day Bolli bands at tightest since 2012 screams for a major breakout

  • But there's no guarantee it will resume the stalled uptrend

  • An upside breakout could test the upper 30-day Bolli, now by 153.30

  • Twin 161.8% Fibos reside by 155.20 for a broader target

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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