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Jan 22 - 03:55 PM

USD/JPY - Pullback Bought Before First Props, 149.14-20 Obstacles Above

By Randolph Donney  —  Jan 22 - 02:10 PM
  • USD/JPY pullback held above 100-DMA & cleared 61.8% at 147.45/7

  • Decent bounce off lows toward preceding 3 days' closes at 148.15-20

  • Fri's 148.80 high is shy of 76.4% of Nov-Dec dive at 149.17

  • Also have an ABC target off Dec-Jan base at 149.14

  • And the low from 2023's peak week is at 149.20

  • RSI still O/B, but the 76.4% Fibo is in play while above 61.8% & 100-DMA

  • Nov. 22-27 highs at 149.55-75 are pre-150 big figure resistance

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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