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Jan 25 - 05:55 PM

USD/JPY - Decent Risk Vs Reward For USD/JPY Shorts By Pandemic Down Trend-Line

By Randolph Donney  —  Jan 25 - 03:26 PM
  • Bears looking to fade USD/JPY rebound now have a decent spot to do so

  • Main down TL from March will be at 104 on Tues vs today's 103.935 EBS high

  • Even a stop above last week's 104.08 high offers a tiny risk on a short

  • Large and falling cloud cover further darkens the topside price outlook

  • Supports, potential targets start with 103.50 kijun & Friday's 103.49 low

  • The bigger pivot point is Jan. 21's 103.33 lows and pending ABC base

  • Below there is support by 103, then the 102.595 trend low

For more click on FXBUZ


Chart Click here

Source:
Refinitiv IFR Research/Market Commentary

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