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Nov 10 - 04:55 PM

USD/JPY - Big USD/JPY Rebound From Correction Lows Eyes 21-Day MA Buy Signals

By Randolph Donney  —  Nov 10 - 03:18 PM

  • Major rebound after Tues-Wed lows by 50% of Oct's rise at 112.76

  • Prices back above the 38.2% Fibo, 30- & 21-DMAs before peaking at 114.00

  • Prices currently below the 21-DMA at 113.81 before the close

  • Heavily overbought intraday oscillators are being corrected

  • A daily range above the 21-DMA would reinforce the rebound

  • And that main uptrend's correction ended and 114.695 trend highs are in play

  • March 1 swing high at 114.445 on EBS is pivotal ahead of 114.695 peak

  • Daily kijun at 112.95 and 112.76 are on-close pivot point props

For more click on FXBUZ


Chart Click here

Source:
Refinitiv IFR Research/Market Commentary

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