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Jul 05 - 03:55 AM

USD/JPY - Chart Points To A Bigger Gain To New Multi-Year Highs

By Martin Miller  —  Jul 05 - 03:00 AM
  • Daily tenkan and kijun lines are positive aligned = market bullish

  • Fourteen-day momentum remains positive, another bull sign

  • USD/JPY, last week, rose to hit a new 24-year high at 137.00

  • Then found support ahead of 134.49 Fibo, a 23.6% of the 126.37-137.00 rise

  • EUR/JPY sees a 141.54-142.36 Tuesday range so far, according to EBS data

  • We remain long at 134.90 for gains to 136.90, our trailing stop is at 135.50

  • USD/JPY Trader TGM2336 Previous USD/JPY update nL1N2YK0GX

Source:
Refinitiv IFR Research/Market Commentary

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