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Jan 15 - 05:55 PM

USD/JPY - Window For USD/JPY Down Trend-Line Fades Closing While Above 103.50

By Randolph Donney  —  Jan 15 - 03:45 PM
  • Fade from Thursday high stalled above the cluster of support at 103.50-59

  • That includes the 10- & 21-DMAs, kijun, tenkan & 50% of January's rebound

  • Shorts likely to lighten up near 103.60, but go with flow below 103.50

  • Stops set above 104.20, Thur's EBS high & down TL from March come Monday

  • Burden of proof on bulls while below the TL, cloud & 100-DMA

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Source:
Refinitiv IFR Research/Market Commentary

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