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Apr 19 - 08:55 AM

USD/JPY - This Is A Good Spot To Expect USD/JPY To Base

By Jeremy Boulton  —  Apr 19 - 06:40 AM
  • USD/JPY has dropped 110.97 to 108.01 in last 13 days

  • Pair close to 38.2% Jan-Apr gains (minimum correction target)

  • 55-DMA is 107.75 and top rising daily Ichimoku cloud 107.46

  • Cloud top rising to 107.95 this week

  • Those buying dips can utilize the thick cloud to shelter stops

  • Low probability of a break below cloud base @ 105.95 and 200-DMA 105.73

  • Current environment will pressure funding currencies like JPY nL1N2MC0CN


USDJPY Click here

Source:
Refinitiv IFR Research/Market Commentary

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