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Apr 19 - 05:55 PM

USD/JPY - Uptrend Remains Parabolic, Trained On 2002 Peaks

By Randolph Donney  —  Apr 19 - 03:25 PM

  • USD/JPY uptrend remains parabolic and headed for 2002's 135.20 peak on EBS

  • That's the highest level since October 1998

  • RSIs from dailies out to monthlies are highly overbought

  • But there are no clear topping signals thus far

  • Should a correction develop initial support is the 10-DMA, last at 125.67

  • Value bid above 126 on the off chance an overdue correction develops

  • Otherwise the May 2002 high at 129.15 and 130 figure may offer resistance

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Source:
Refinitiv IFR Research/Market Commentary

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