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May 04 - 05:55 PM

USD/JPY's 3% Three-Day Plunge Holds 30-Day MA, But Is Bearish Below 10-DMA

By Randolph Donney  —  May 04 - 04:00 PM
  • USD/JPY's 3% three-day slide to 133.50 found support by the 30-DMA at 133.48

  • Late recovery got it back by the 21-DMA and daily kijun at 134.16/21

  • Thursday's 134.88 high on EBS is by the cresting 10-DMA

  • A bearish bias persists unless the 10-DMA is closed above

  • A sub-kijun close would signal further retracement of 129.645-37.78 advance

  • That the March-May rise that was roundly rejected by March's trend highs

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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