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Feb 14 - 04:55 AM

USD/JPY - After Monday's Near Miss USD/JPY May Settle Into A Range

By Jeremy Boulton  —  Feb 14 - 03:45 AM
  • USD/JPY tested above but failed to close over 55-DMA - now 132.46

  • Monday's rally challenged and failed close base daily Ichimoku cloud

  • Thick (stronger resistance) and falling daily cloud is 133.00-139.18

  • Cloud has the potential to define the peak of future ranges

  • In contrast USD/JPY rising over peak weekly Ichimoku cloud 130.95-124.25

  • Together with 55-DMA, the 55-WMA at 132.59 may prove key

  • Closes in relation 55-MAs may determine direction of future ranges

  • Closes below may seen ranges sink from 128-133 into 125-130 area

  • Closes over 55-MAs may see ranges rise steeply, weekly cloud top 134 in Mar

  • The loss of momentum in FX markets is key nL1N34U0JC

Refinitiv IFR Research/Market Commentary


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