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Mar 20 - 09:55 PM

USD/JPY - Poised Below Long-Term Resistance - Risk Key

By Andrew M Spencer  —  Mar 20 - 07:55 PM

  • +0.1% after closing up 0.45% with resilient risk appetite and Wall Street

  • Tokyo holiday today so risk appetite and E-mini S&P futures likely lead

  • Charts - 10 days of higher daily high's sustains the topside bias

  • Targets a break of major long term 119.52 resistance 76.4% 2015-2016 fall

  • Close above 119.60 opens door to psychological 120.00 then 121.70 2016 peak

  • Close below rising 117.47 Tenkan line needed to undermine topside bias

  • NY 119.08-119.40 range on Friday is initial support and resistance

For more click on FXBUZ


jpy Mar 21 Click here

Source:
Refinitiv IFR Research/Market Commentary

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