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May 14 - 03:55 AM

USD/JPY - Beware USD/JPY Fails To Remain Above The Thickening Daily Cloud

By Martin Miller  —  May 14 - 01:59 AM
  • Surged Wed, to register a 108 pip rise, biggest daily gain since Nov 2020

  • Mkt failed the break above thickening cloud, putting further gains in doubt

  • The thickening daily Ichimoku cloud spans the 107.52-109.69 region

  • However fourteen-day momentum remains positive = bullish market structure

  • Bulls need to see another close above the cloud to add to the upside bias

  • USD/JPY Trader TGM2336. Previous update nL1N2N00DA

  • EUR/JPY has seen a 132.29-132.46 range on Friday according to EBS prices

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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