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Feb 10 - 09:55 PM

USD/JPY - USD Leads, But Support Above 104.00 Likely Resilient

By Andrew M Spencer  —  Feb 10 - 07:52 PM
  • Touch firmer - closed little changed after choppy volatility in Europe

  • Tokyo holiday and the start of the lunar New Year limits volatility, flow

  • Charts; uptrend stalled at 105.76 last week, which is now key resistance

  • Rising Tenkan & Kijun lines are supportive, cresting momentum studies weigh

  • Mixed signals suggest rage trading rather than a trending move

  • 104.13-18, cloud top and 50% of the 2021 rise are major support

  • Europe's 104.41-104.84 range is initial support and resistance

    For more click on FXBUZ

jpy feb 11 Click here

Source:
Refinitiv IFR Research/Market Commentary

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