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Jul 26 - 04:55 AM

USD/JPY - Bulls Need Another Close Above The Kijun Line

By Martin Miller  —  Jul 26 - 03:28 AM
  • USD/JPY scope is for gains through July 14 110.70 peak in coming sessions

  • Bulls have tightened their grip after a Friday to close above the kijun line

  • They need another daily close above kijun line to maintain the upper hand

  • The daily kijun line currently comes in at the 110.37 level

  • Earlier in July a bear trap was set below the 109.57 Fibo = bullish

  • 109.57 Fibo is a 50% retrace of the 107.48 to 111.66 (April to July) rise

  • EUR/JPY sees 129.79-130.15 EBS range. USD/JPY Trader TGM2336nL1N2OY0IQ

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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