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May 15 - 03:48 AM

USD/JPY - Fragile USD/JPY Hovering Just Above Key Tech Support

By Martin Miller  —  May 14 - 03:35 AM
  • Fourteen-day momentum negative, reinforcing the chart's bearish outlook

  • A fragile USD/JPY found support at daily cloud base, that remains at 106.71

  • Daily close below the cloud base is needed to accelerate losses

  • That would increase odds for losses to the 30-day upper bolli-band at 105.96

  • Only a break and daily close above this week's 107.76 high will defer

  • USD/JPY Trader TGM2336. Previous nL1N2CV0BB

  • EUR/JPY range on Thursday has been 115.36-115.80, according to EBS data

Daily Bollinger Chart: Click here

Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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