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Feb 09 - 04:55 PM

USD/JPY's February Recovery Fends Off Reversal, But Key Hurdles Loom Above

By Randolph Donney  —  Feb 09 - 02:55 PM

  • USD/JPY recovers from intraweek lows below the tenkan at 130.49

  • And set to close higher, keeping February's recovery intact

  • But it's still below the 55-DMA, cloud base and 23.6% at 132.84/93/3.05

  • Weekly tenkan and the on-close pivot point are at 132.70/88

  • Those hurdles are also by Monday's 132.90 recovery high on EBS

  • A close above those hurdles is key to extending the recovery

  • The 38.2% Fibo of Oct-Jan's drop and 200-DMA then eyed at 136.66/83

  • A daily range below the 21-DMA, last at 129.87, would mark recovery's end

For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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