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Jan 23 - 04:55 PM

USD/JPY - Uptrend Reaffirmed After Reversion To 10-DMA Spurs Surge

By Randolph Donney  —  Jan 23 - 03:05 PM
  • Long position taken at 147.50 survives Tues's brief dive to 146.99

  • Supported by 147 and nearby 10-day MA

  • Strong rebound to 148.70 since to just shy of 148.80 Jan high

  • Bullish daily candle threatens to engulf Mon's real body

  • Target is 149.90 ahead of key 150 figure resistance

  • A close above 76.4% of Nov-Dec drop at 149.17 eyed on the way

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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