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Nov 08 - 02:36 PM
USD/JPY - Taking Another Trade War Detour In Stride So Far
First appeared on eFXplus on Nov 08 - 01:15 PM
  • USD/JPY's slip on new trade war angst nL2N27O0SI held to 109.08

  • That's 50% of Thur's big rise and by hourly cloud top support

  • Pair's also holding above the 200-DMA at 109.03 thus far

  • Bulls may be denied a close above 109.32-3 Fibo, Aug high, cloud base

  • If so, a US holiday Monday will favor mean reversion, consolidation

  • Though M-T Fibo targets are by 110.50, bearish RSI divergence is eyed

  • Daily kijun at 108.02 is crucial support if trade news dims further

Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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