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May 17 - 10:55 AM

USD/JPY: Tech Levels: In 127.4-132.0 Range Near-Term - Barclays

By eFXdata  —  May 17 - 10:00 AM

Barclays Research discusses USD/JPY technical outlook in the near-term.

"We see USDJPY trading in a technical range of 127.4-132.0 in the week ahead...On the downside, we expect support at 127.5 (daily Ichimoku base line), 125.0 (38.2% retracement of rise since March), 124.3 (weekly Ichimoku conversion line), 123.0 (50% retracement of rise since March) and 121.9 (weekly Ichimoku base line)," Barclays notes. 

"Upside resistance comes at  130.0 (psychological threshold) and 131.4 (recent high), then at the round thresholds of 132, 133 and 134,"Barclays adds. 

Source:
Barclays Research/Market Commentary

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