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Mar 12 - 04:55 PM

USD/JPY's Recovery Is A Fade Unless Kijun Is Closed Above

By Randolph Donney  —  Mar 12 - 03:00 PM
  • Short with a stop above kijun/50% of Feb-Mar drop at 148.68

  • Rebound from 146.48 March low capped at 148.205 by 38.2% at 148.16

  • Prices are now near the 55-DMA at 147.56

  • A daily range above it would to negate Mon's bearish range below it

  • The 61.8% at 149.20 is by Feb. 29's 149.21 spike low

  • RSIs are no longer O/S, reducing retracement pressure

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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