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Jul 15 - 07:24 AM
USD/JPY - Base Forming But Bears Not Out Of The Game Just Yet
First appeared on eFXplus on Jul 15 - 05:15 AM
  • Bear bias holding but progress slow and with potential for a 107.80 base
  • 14-day momentum positive despite Frid's price drop: RSI confirms price fall
  • Ichimoku cloud thickening and falling, could weigh on price
  • Below 107.80 and a run at the recent 107.54 hammer low the risk
  • Below here and a drop to a more major 106.78 hammer low could be seen
  • 10WMA continues to define the bear trend, currently 103.40

USD/JPY Trader:

USD/JPY Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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