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Jan 07 - 03:48 AM
USD/JPY's Candlestick Long Tails Warning Of A Downside Rejection
First appeared on eFXplus on Jan 07 - 02:00 AM
  • USD/JPY left two long tails on Friday and Monday candlestick lines

  • That is a sign that the market is trying to reject the downside

  • However the thick daily cloud, which spans the 108.11-91 region, weighs

  • We are short at 108.30 in anticipation for a resumption below 107.72

  • 107.72 Fibo is a 38.2% retrace of the 104.46 to 109.73 (Aug to Dec) EBS rise

  • EUR/JPY's Tuesday range has been 121.18-44. USD/JPY Trader TGM2336

Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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