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Aug 10 - 04:55 AM

USD/JPY - Supported By A Rising Cloud And 10-Day Average

By Peter Stoneham  —  Aug 10 - 03:40 AM

  • Slight upward trajectory supported by a rising daily cloud

  • Cloud top currently at 134.25 and backed up the 10DMA at 133.92

  • A sideways bias clouding direction and this reflected in a neutral RSI

  • Daily momentum remains negative following the July 14 to August 2 drop

  • On balance a buy but dollar needs to overcome a 61.8% Fibo at 135.95

  • Last Week's hammer candle favours bulls but needs confirmation this week

    For more click on FXBUZ









Source:
Refinitiv IFR Research/Market Commentary

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