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Oct 08 - 05:55 PM

USD/JPY - Bears Kept In The Game By Downtrend Line, Cloud Top

By Randolph Donney  —  Oct 08 - 03:25 PM
  • USD/JPY shorts kept viable after down TL from July holds at 106.11

  • Tight range inside the 105.85-6.18 cloud span shows indecision

  • The weekly on-close pivot point at 106.17 will also be key on Friday

  • Bullishly aligned tenkan & kijun need cloud breakout for confirmation

  • A close below the tenkan at 105.53 would bolster the down TL top turn

  • Wed, today closes above the 55-DMA at 105.77 on EBS favors 100-DMA at 106.53

    For more click on FXBUZ

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Source:
Refinitiv IFR Research/Market Commentary

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