By Randolph Donney — Mar 31 - 03:50 PM
USD/JPY's rebound from March lows to 133.60 repelled at March midpoints
From Fri's 133.60 EBS high it fell toward 55-DMA & cloud base @132.58/51
The high couldn't reach 50% of March's slide and tenkan at 133.77
The falling 100-DMA and 21-WMA also loomed at 133.75/89
The 21-WMA was probed but not closed above in early March probes
That as 21-wk Bollis sharply contract, making the 21-WMA more pivotal
Instead, prices threaten to close below last week's 133 high & 55-WMA
Daily & weekly RSIs are at neutral readings after rebounding
Daily RSI's rebound was from O/S bullish divergence lows last Friday
Fading rallies favored unless the 133.77 hurdles are closed above
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Source:
Refinitiv IFR Research/Market Commentary