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Feb 20 - 11:55 PM

USD/JPY - Mixed Data, As Yen Consolidates Within The Cloud

By Andrew M Spencer  —  Feb 20 - 10:10 PM

  • Flat at the lower end of a 134.15-134.58 range, with the USD a shade firmer

  • Manufacturing PMI missed at 47.4, but services PMI strengthened at 53.6

  • BOJ Governor Haruhiko Kuroda: Wage growth to accelerate on tight job market

  • Charts; positive 5, 10 & 21 day moving averages and 21 day Bollinger bands

  • Momentum studies conflict - net bullish setup suggests further gains

  • Moved back into the descending daily cloud - traded below since November

  • 137.38 falling cloud top key resistance - break a strong bullish signal

  • 132.46 horizontal Tenkan line then 131.84 cloud base are the major supports

    For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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