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Nov 16 - 04:55 PM

USD/JPY - Bullish Multi-Year Breakout At Hand, Dips To Be Bought

By Randolph Donney  —  Nov 16 - 03:13 PM

  • USD/JPY probes October's multi-year highs at 114.695

  • Nov 2017's 114.74 EBS peak is next ahead of 115 resistance

  • A 114.74+ close would increase the risk of rise to Dec 2016's 118.66 high

  • The 161.8% Fibo off the April-July 2021 base is also at 118.42

  • Dip toward Monday's 114.30 high a value if pullback precedes big breakout

  • Upper 21-day Bolli & ATR top are nearby, but Bolli bands have room to expand

  • March 2017's swing high at 115.51 may offer some resistance above 115

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Source:
Refinitiv IFR Research/Market Commentary

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