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Thomson Reuters
Jul 31 - 05:00 AM
USD/JPY - Rise Halted By Converged 10 And 21-DMAs, Outlook Mixed
First appeared on eFXplus on Jul 31 - 03:20 AM
  • Spike higher has been contained by a cluster of solid resistance levels
  • Resistance include the converged to 10 and 21-DMAs, currently at 111.47
  • Also recent 111.51/54 July daily highs and the key 111.57 Fibonacci level
  • 111.57 Fibo, a 38.2 percent retrace of the 113.18 to 110.58 fall
  • Outlook mixed, we remain short at 110.99 our stop at 111.60 is protected
  • Long candle tails increased chance USD/JPY rises this week nL1N1UQ03P

USD/JPY Trader:

Daily Ichimoku Chart: Click here

Source:
Thomson Reuters IFR Markets

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