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Jul 24 - 05:55 AM

USD/JPY - Could Still Rebound Towards Friday's "cloud Twist"

By Martin Miller  —  Jul 24 - 03:35 AM
  • Market at risk of a steeper USD/JPY drop to 106.08 June (EBS) low

  • But FX traders should be mindful of a "cloud twist" circa 107.90 on Friday

  • A cloud twist usually acts like a magnet in the short term

  • Thursday's 107.22 peak should cap near-term recovery attempts

  • We are looking to get short on near-term recovery moves to 107.15

  • USD/JPY Trader TGM2336. Previous update nL2N2EU08N

  • Dollar's negatives are mounting nL2N2EU099

Daily Bollinger Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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