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Thomson Reuters
May 30 - 06:12 AM
USD/JPY - Recovery Should Be Capped By The Daily Tenkan Line
First appeared on eFXplus on May 30 - 04:15 AM
  • USD/JPY underlying bias bearish as tenkan and kijun lines negatively aligned
  • For an acceleration lower bears need to register a close below 109.23 Fibo
  • 109.23 Fibo is a 38.2% of the 104.10 to 112.40 (2019) EBS rise
  • Recovery attempts should be stemmed by the tenkan line at 109.91
  • Stand aside for now and await clearer signals
  • EUR/JPY range has been 121.96-112.25. Previous USD/JPY update

USD/JPY Trader:

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Source:
Thomson Reuters IFR Markets

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