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Jan 04 - 04:55 PM

USD/JPY's Swift Rebound Reaches Pivotal Resistance, Weekly Close Is Key

By Randolph Donney  —  Jan 04 - 02:50 PM
  • USD/JPY surged past the weekly kijun and 38.2% of Nov-Dec dive at 144.58/71

  • A close above those hurdles and 145 is key to reaching the 50% at 146.10

  • The Dec. 19 144.95 swing high by Dec. 13's breakdown point is also eyed

  • And 144.95 is also the weekly on-close pivot point

  • Weekly candle is bullishly engulfing last week's 141.01-2.35 real body

  • But boost from O/S daily RSI is dimming with RSIs now at 60

  • Major trend remains dn after 2022/23's 151.94/92 double-top at 32-yr highs

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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