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Thomson Reuters
Apr 10 - 12:12 PM
USD/JPY - Bears Baulking Ahead Of Significant Support Points
First appeared on eFXplus on Apr 10 - 07:55 AM
  • Two-day slide from 111.82 Frid high but market rebounds from 110.92 100DMA
  • We are long from 111.05 for 111.90, March 15 swing high
  • Our stop placed just below the significantly thick daily cloud
  • Cloud top at 111.78 and 55DMA at 110.73, should provide strong support
  • 14-day positive momentum increasing but stochs not showing same divergence
  • Weekly action just pulling lower from the cloud top, 111.63

USD/JPY Trader:

USD/JPY daily Ichimoku Chart: Click here

Source:
Thomson Reuters IFR Markets

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