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Jan 24 - 05:55 PM

USD/JPY - Uptrend Survives Second Big Setback, But Has Work To Do

By Randolph Donney  —  Jan 24 - 02:15 PM
  • Long trade survived the second big dip of the week

  • Wed's 146.65 lows held above the daily tenkan and cloud top at 146.575/435

  • Those supports guard the long's 146.40 stop

  • Big bounce off lows is now near 100-DMA at 147.46

  • And well above the 10-DMA at 147.16 broken intraday and by Tues's lows

  • RSIs still correcting overbought Jan high levels

  • Big cluster of supports near 146 from 55-DMA, Fibos, prior highs

  • Close above 76.4% of 151.92-40.27 dive at 149.17 is key for 150 test

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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