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Jun 02 - 04:55 AM

USD/JPY - Good Chance USD/JPY Climbs Within 109-112 Range

By Jeremy Boulton  —  Jun 02 - 02:48 AM
  • USd/JPY is in a strong uptrend and traders are not overly long

  • $5.7bln staked on a rally compared to $15-17bln bets in 2017/2015

  • USD/JPY +2.5% Apr 23-May 28 from 107.48-110.20 (option barriers k/o)

  • USD/JPY lows close to base monthly Ichimoku cloud 109.37-112.43

  • 55-MMA 109.44 & 100-MMA 109.35 add to support, 100-MMA to cross above 55-DMA

  • Close below 200-WMA at 108.89 needed to turn sights lower again

  • Close over 111.40 (76.4% drop from 2018's high) would target 114.55



USDJPY Click here

USDJPY bets Click here

Source:
Refinitiv IFR Research/Market Commentary

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