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Jun 28 - 06:12 AM
USD/JPY - FX Traders Respecting The Trend But G20 Saps Direction
First appeared on eFXplus on Jun 28 - 03:05 AM
  • Underlying bear trend reasserts itself as market fails to hold Thurs gain
  • Long upper wicked candle highlights demand fade
  • However, not much of a pullback either price clings to the 10DMA
  • Bear trend defined by a line drawn off Apr 24 112.40 high, today at 108.05
  • 21DMA also at 108.05 with Thurs 108.16 high just behind
  • Key levels remain 106.78 Jun 25 low and 108.30 high from Jun 11
  • We maintain an offer by 108.50 but might adj on a close below 107.78 10DMA

USD/JPY Trader:

USD/JPY Daily Candle Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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