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Feb 03 - 04:55 AM

USD/JPY - Thickening Cloud Increases Scope For A Bigger Recovery

By Martin Miller  —  Feb 03 - 03:32 AM

• USD/JPY propped up by thickening daily cloud, that adds to the upside bias

• There is scope for gains to eventually probe the Jan 23 156.76 (EBS) peak

• The daily cloud, that currently spans the 153.37-154.54 region, supports

• A break under Monday's 153.72 low would be an early warning to bulls

• If the daily cloud base gives way, that would be a very negative sign

• We remain long at 154.30 for 156.30, stop now at cost. Trader

Daily Chart:


(Martin Miller is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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