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Dec 13 - 03:55 AM

USD/JPY - Stalling Ahead Of 138.00 Keeps Shorts Alive

By Peter Stoneham  —  Dec 13 - 02:45 AM

  • Short trade close to its stop level but price stalling ahead of 138.00

  • Without a close above 138.00 the downtrend from Oct risks resuming

  • trend resumption would target 132.55/46

  • However, Mon's close above 13-DMA, first since Oct, hints at gains

  • A minimum correction off the 151.94-133.62 drop was removed at 137.94

  • Overall, our short is increasingly at risk

    For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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