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Aug 28 - 05:00 AM
USD/JPY - Bearish Grip Weakens But Low 104S Still The Risk
First appeared on eFXplus on Aug 28 - 03:10 AM
  • Tight price action early Wed and daily bear momentum fades: rebound risk
  • 10DMA hanging over the market at 106.15: we offer here for the low 104s
  • Recent chop has clouded n-t direction and market looking more balanced
  • Favour lower while below 106.98, Aug 13 failure high
  • Close under daily tenkan line, 105.60 could put bears back in the game
  • Longer-term charts highlight upside risk: long lower candle wick this week

USD/JPY Daily Candle Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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