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Jul 23 - 10:55 PM

USD/JPY - Range Support Break In Thin Markets, Next Stop 106.07

By Andrew M Spencer  —  Jul 23 - 09:05 PM
  • -0.3% in thin Tokyo holiday trading, with the USD gently softer - no news

  • E-mini S&P +0.2% - AsiaxJP stocks -0.2% - resilient after Wall Street fall

  • 106.00 350M, 106.50 300M, 106.70-75 488M and 107.15-20 500M close strikes

  • USD looks heavy as recent negative correlation with risk looks shaky

  • Dip has broken a three week 106.63 range support - touching 106.52

  • Momentum studies 5, 10 & 21 DMAs edge lower - bearish setup

  • Targets a test of 106.07 June low - earlier 106.87 high first resistance

    For more click on FXBUZ

jpy jul 24 Click here

Source:
Refinitiv IFR Research/Market Commentary

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