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Jan 12 - 04:55 PM

USD/JPY's Correction Of Its Late 2023 Dive Has Likely Concluded

By Randolph Donney  —  Jan 12 - 02:45 PM
  • USD/JPY's 140.27-146.41 rebound rejected by 55-DMA, daily cloud base Thur

  • Fri's 144.35 low held Wed's 144.33 low, the daily on-close pivot pt

  • Prices now closer to the weekly on-close pivot pt at 144.95

  • Close above needed to support the Dec-Jan recovery

  • But Thur's false breakout above 50% of Nov-Dec dive at 146.10 weighs

  • The 38.2% and 50% Fibos of the Dec-Jan rise are at 144.06/3.34

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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