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Aug 26 - 07:24 AM
USD/JPY - Bears Scattered By Heavy Japanese Dollar Buying
First appeared on eFXplus on Aug 26 - 05:15 AM
  • Major price gyrations and a 104.60 to 106.00 Monday range
  • Japanese investors-importers lay down a sub-105.00 base: clouds direction
  • Capitalized on price slide below 115.00, 140-point profit on 106.50 short
  • S/t techs clouded by the sharp daily drop Frid and drop and rebound Mon
  • Some clarity on weeklies: bearish engulfing line handing the baton to bears
  • However, although early in the wk, warnings that bear confirmation unlikely
  • Risk of a daily bull signal counters with a potential hammer today (bullish)

USD/JPY Daily Candle Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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