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Mar 12 - 03:55 AM

USD/JPY - Chart Has Conflicting Signals, Spot Could Go Either Way

By Martin Miller  —  Mar 12 - 02:35 AM
  • USD/JPY recently suffered a big setback to break and close under kijun line

  • Daily kijun line, the midpoint of the last 26 sessions, is at 148.68

  • Fourteen-day momentum remains negative, reinforcing the downside risk

  • However spot has twice failed under 146.83 Fibo, could be a downside failure

  • 146.83 Fibo is a 38.2% retrace of the 140.27 to 150.88 (Dec to Feb) EBS rise

  • EUR/JPY has seen a 160.33-161.43 range, on Tuesday, EBS data shows

  • USD/JPY Trader TGM2336. Offer at 147.60. Previous update nL2N3FP0K7

Source:
Refinitiv IFR Research/Market Commentary

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