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Mar 25 - 05:55 PM

USD/JPY - A USD/JPY Dip Buy Is Showing Promise As Uptrend Eyes Next Targets

By Randolph Donney  —  Mar 25 - 03:44 PM
  • A USD/JPY pullback buy at 108.50 would offer decent risk vs reward

  • Stop can below placed below rising 21-DMA and 3-week lows at 108.28-40

  • This week's price action suggests a resumption of the uptrend

  • Tuesday and Wednesday's lows ricocheted away from the lower 10-day Bolli

  • And prices are closing close to the upper 10-day Bolli band today

  • RSIs fell from a very O/B 86 on March 8 to 62 on Tuesday before rising again

  • March's 109.365 EBS high guards 76.4% Fibo of March-Jan drop, June's high

  • Those 109.56/85 targets are attractive vs roughly .25 yen stop-out risk

For more click on FXBUZ


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Source:
Refinitiv IFR Research/Market Commentary

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