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Jan 14 - 03:55 AM

USD/JPY - Bulls Brought To Heel By Major Falling Trend-Line

By Martin Miller  —  Jan 14 - 01:53 AM
  • USD/JPY's recent recovery attempts have been stymied by the daily cloud

  • Daily cloud currently spans the 104.32-65 region

  • Falling trend-line from March 24 2020 111.71 peak, now at 104.26, also caps

  • Tenkan and kijun lines remain negative aligned, adding to the bear bias

  • We are now short at 104.20 in anticipation for our 102.70 target

  • EUR/JPY has seen a 126.24-48 EBS range so far on Thursday

  • USD/JPY Trader TGM2336. Previous update nL1N2JO0FR

Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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