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Aug 27 - 07:55 AM

USD/JPY - Bullish Potential Beginning To Build

By Peter Stoneham  —  Aug 27 - 07:24 AM

  • Bull bias holding and potential for a hammer (bullish) candle Friday

  • Initial hurdle close to market at 110.22, Aug 19 and 26 highs (EBS price)

  • Price currently pivoting around a thin daily Ichimoku cloud, 110.11-12

  • Last Fibo off the 110.80-109.12 fall is at 110.40

  • Last week's hammer candle set to be confirmed this week

  • Outlook bullish but we prefer to wait for stronger signals

    For more click on FXBUZ









USD/JPY daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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