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Apr 24 - 05:55 AM

USD/JPY - Chart Has Conflicting Technical Signals, Outlook Mixed

By Martin Miller  —  Apr 24 - 03:35 AM

• USD/JPY rebounded from Tue's multi-month 139.89 low, peaked at 143.58 on Wed

Bullish signal: close above the broken 142.56 Fibo, on Wednesday

• 142.56 Fibo is a 23.6% retrace of the 151.21-139.89 (March-April) EBS drop

Bearish signal: daily tenkan and kijun lines remain negative aligned

• A break and close above 144.21 Fibo would point to an even bigger recovery

• 144.21 Fibo is a 38.2% of the 151.21-139.89 same (March-April) drop

(Martin Miller is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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