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Jul 17 - 08:36 AM
USD/JPY - Sting Taken Out Of Tuesday Rally, Price Struggling
First appeared on eFXplus on Jul 17 - 06:15 AM
  • Small bid from the Wed open but not convincing as Tues rally fades
  • Tues 108.37 high intact as price keeps to a 108.11 to 108.33 range
  • 14-day momentuml positive but fading and RSI not confirming the Tues rally
  • Initial support at 107.80-83, recent lows: to stall further weakness
  • We maintain an offer by 108.50 for sub-107.00 but will revise on sub-107.80

USD/JPY Trader:

USD/JPY Daily Candle Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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