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Feb 18 - 04:55 PM

USD/JPY - Fade Trades Can Run Risk-Free, As 2021 Rise Gets Reset

By Randolph Donney  —  Feb 18 - 03:27 PM
  • USD/JPY fades into 38.2% of pandemic drop at 106.05 can run risk-free now

  • The 106.225 EBS peak Wed looks out of reach while O/B reset is occurring

  • Watching the 38.2% and 50% Fibos of Feb's rise at 105.53/32 first

  • Extra interest at 105.53 due to the flat 200-DMA being there as well

  • O/B RSIs in bearish divergence and fall from upper 21-day Bolli weigh

  • Reversion toward the rising 21-DMA, last at 104.79, is favored

  • Feb. 10 high, 38.2% of the Jan-Feb rise & 76.4% of Feb's rise are @104.84

  • Huge support at 104.40-42 could guard stop of next buy into main uptrend

  • Eventual close above 106.05 will target the 50% Fibo at 107.15

For more click on FXBUZ


Chart Click here

Source:
Refinitiv IFR Research/Market Commentary

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