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Jan 01 - 07:55 PM

USD/JPY - Strong Downtrend - Bid Early - Japan On Holiday

By Andrew M Spencer  —  Jan 01 - 06:05 PM
  • +0.1% early with Japan on holiday, after closing down 0.35% on Friday

  • A huge earthquake rocked central Japan on New Year's Day

  • Expecting risk appetite and the U.S. dollar to drive JPY in Asia

  • Charts show negative signals - Tenkan and Kijun lines slide

  • 5, 10 & 21-day moving averages track south with momentum studies

  • 141.92 Tenkan line and the high in London on Friday are first resistance

  • Last week's 140.27 December trend low is the major support

  • A close below 140.27 would target 139.56, 50% of the 2023 rise

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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