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May 20 - 11:55 AM

USD/JPY - Investors Pause Ahead Of A Key Impediment

By Christopher Romano  —  May 20 - 10:05 AM
  • Two daily dojis in place the last two trading sessions, implies indecision

  • Investors are taking a break as key support near 127.00 is approaching

  • Daily RSI is rising but other technical signals highlight downside risks

  • The 10-DMA has crossed below the 21-DMA, likely a downside signal

  • Monthly RSI falling after diverging on the new high set onMay 9th

  • Should support near 127.00 break stop loss selling likely takes hold

  • Shorts then target supports near 125.10, daily cloud top, 123.95/124.05

  • For more click on FXBUZ



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Source:
Refinitiv IFR Research/Market Commentary

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