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Mar 11 - 04:55 PM

USD/JPY - Plunge Takes A Pause For The Cause Near Key Supports

By Randolph Donney  —  Mar 11 - 03:25 PM
  • USD/JPY's nearly 3% drop from Feb high consolidates

  • First day with higher low, just, since March 1

  • Daily RSIs O/S as prices hit 161.8% Fibo off Feb-Mar top

  • 200-DMA, cloud top and Feb's low are at 145.90-6.26 on Tues

  • Look to sell a bounce to the broken 55-DMA by Thur's low

  • Bias is bearish while below kijun at 148.68

  • 50% and 61.8% of the 140.27-150.88 rise are at 145.57/4.32

  • Double-tops at 151.92/94 in 2022-23 & 2024's 150.88 peak are M-T sells

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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