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Feb 10 - 02:55 AM

USD/JPY - Nikkei Up, But Yen On Hold As A Cloud Test Beckons

By Andrew M Spencer  —  Feb 09 - 10:30 PM

  • Steady in a 131.39-131.90 range EBS - bought into Tokyo fix, then retreated

  • Japan government to present BOJ nominees to parliament on Feb 14

  • The economic policy outlook of the next BOJ governor will be pivotal for yen

  • Nikkei trades up 0.5%, after strong earnings, in contrast to most bourses

  • Charts; 5, 10 and 21 day moving averages climb with 21 day Bollinger bands

  • Positive signals joined by a sustained break of resilient 130.99 Kijun line

  • Signals support a test of the falling daily Ichimoku cloud, today at 132.99

  • Daily cloud has capped since November - close inside bullish for next week

  • 130.49 Tenkan line and today's 131.90 Tokyo top initial support, resistance

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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