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Jan 09 - 11:55 PM

USD/JPY - Key Support Holds, With A Positive Technical Setup

By Andrew M Spencer  —  Jan 09 - 10:15 PM

  • +0.15% with the USD a touch firmer and Asian stocks remained resilient

  • Trades at the top of a 115.55-115.79 range - low key on a Tokyo holiday

  • Charts; Kijun line, 5, 10 & 21 day moving averages all track higher

  • Momentum studies crest - overall the setup supports further gains this week

  • Last week's 116.35 top first resistance - 118.60 2016 top longer term target

  • Sustained break of resilient support at 115.52 2021 high would be negative

  • NY 115.52-115.93 range is initial support and resistance

For more click on FXBUZ


jpy 2 jan 10 Click here

Source:
Refinitiv IFR Research/Market Commentary

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