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May 28 - 07:55 AM

USD/JPY - Bearish Pointers Building But Ranges Are Tight

By Peter Stoneham  —  May 28 - 05:45 AM
  • Potential rounding top on the daily chart

  • However, ranges are extremely tight and clouding near-term direction

  • We are maintaining a long from 155.25 for 165.00 but at risk of pullbacks

  • Key support at the 10-day MA, today at 156.30

  • Sharp drop in 14-day positive momentum: RSI levelling off near o/b levels

  • Climb above recent 157.19 needed to trigger a bullish resumption

for more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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