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Jul 21 - 05:55 PM

USD/JPY - Bulls Eye Confirmation July's ABC Correction Lower Is Over

By Randolph Donney  —  Jul 21 - 04:00 PM
  • USD/JPY's 111.66-109.07 July drop looks like an ABC correction

  • Cloud top caught 109.80 Wed EBS lows, but rebound stalled by Kijun, 30-DMA

  • Close above the 50% Fibo and kijun at 110.365 would add to lift

  • Above 61.8% of July drop and B-wave high at 110.67/70 eyes the 111.66 peak

  • 10-DMA by 110 and Cloud top at 109.85 on Thur are props for dip-buyers

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Source:
Refinitiv IFR Research/Market Commentary

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