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Oct 24 - 07:24 AM
USD/JPY - Steady But Breakout Risk Skewed Bull Side
First appeared on eFXplus on Oct 24 - 05:00 AM
  • Action since Oct 15 steady to bearish but USD now finding its feet

  • Higher UST yields and slight leaning towards risk on just underpinning

  • Candles showed a strong bull close Wed but market reluctant to add

  • Talk of sizeable stops mixed in with 109.00-10 offers: to add to a breakout

  • Focus elsewhere but if risk-on sentiment builds bulls look to 200DMA, 109.15

  • Price below 200DMA since May: weeklies point to a 109.33-45 Dec cloud twist




USD/JPY Daily Candle Chart: Click here

USD/JPY Weekly Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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