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Mar 31 - 04:55 PM

USD/JPY - Breaks Uptrend Line, But Holding Key Supports Into Q2, NFP Friday

By Randolph Donney  —  Mar 31 - 02:40 PM

  • USD/JPY's 121.28-2.45 Thur range on EBS held above 121.02/18 props

  • But range was entirely below March's extreme up TL at 122.71

  • Real body mostly between 10-DMA and tenkan at 121.53/2.20, close eyed

  • Global risk off, period-end flows, weighed on Tsy yields, oil

  • March's hugely O/B 9% rise still being worked off, P/T weighs

  • Mar 25 on-close pivot pt & 38.2% of 114.405-125.105 rise at 121.18/02

  • Close below 121 needed to target kijun and 50% Fibo at 119.755

  • Daily range above the tenkan would make Wed's 123.20 high pivotal

    For more click on FXBUZ


Chart Click here

Source:
Refinitiv IFR Research/Market Commentary

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