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Dec 09 - 04:55 PM

USD/JPY - Gets Next Sell Signal Friday, But Confirmation Awaited

By Randolph Donney  —  Dec 09 - 02:30 PM

  • Series of four higher daily lows was broken on Friday, favoring shorts

  • But prices rebounded to inside Thursday's tight range in non-confirmation

  • Week's 137.85 rebound high on EBS faltered just below 23.6% and 50% Fibos

  • Those of falls from 151.94 and 142.25 highs to Dec's 133.62 low at 137.94

  • Prices also below the downtrend line from 142.25 and 13-DMA at 137.29/41

  • That trendline will fall to 136.92 on Monday

  • Shorts look ok while below those downtrend reinforcements

  • A second probe of 200-DMA at 135.06 looks likely

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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