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Thomson Reuters
Jun 05 - 06:12 AM
USD/JPY - Bears Betting On Continuation Pattern, Weak Bounces
First appeared on eFXplus on Jun 05 - 04:20 AM
  • Attempting to base but lack of bull momentum hints mkt has bearish appetite
  • Potential for a bearish continuation pattern around the 30DMA lower Bolli
  • We have an offer by 108.40, close to market, for 107.00 monthly Bollinger
  • Turning point likely above 10DMA, 108.98, we would place our stop above
  • 14-day momentum remains negative but RSI hints at corrective gains
  • Weekly action below its cloud but cloud twists at month-end, could attract

USD/JPY Trader:

USD/JPY Daily Candle Chart: Click here

Source:
Thomson Reuters IFR Markets

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