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Aug 31 - 01:55 PM

USD/JPY - Longs Lean On The Trend Line

By Christopher Romano  —  Aug 31 - 12:28 PM
  • USD/JPY briefly pierces the rising trend line off the Aug. 4 daily low

  • Follow through is limited, 109.59 trades on EBS, a rally then ensues

  • USD/JPY climbs back above the 10- & 30-DMA, turns positive on the day

  • Daily and monthly RSIs turn up, a daily bull engulfing candle is in place

  • Pair is below the daily cloud & a monthly doji for August implies indecision

  • A close above the daily cloud would give bulls greater control

  • For more click on FXBUZ


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Source:
Refinitiv IFR Research/Market Commentary

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