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Thomson Reuters
Jul 04 - 06:12 AM
USD/JPY's Ominous Signs Grow As Bears Eye The 200-DMA
First appeared on eFXplus on Jul 04 - 03:50 AM
  • USD/JPY upside has been limited by the 30-day upper bollinger-band
  • This increases odds of an eventual fall to 30-day lower BB now at 108.85
  • 14-day momentum turning negative. 110.43 (23.6% of 108.12-111.14) broken
  • Ominous signs will be confirmed with a break and daily close below 200-DMA
  • The 200-DMA is currently at now at the 110.17 level
  • We have switched our strategy switched to sell, offer placed at 110.80

USD/JPY Trader:

Daily Fibo Chart: Click here

Source:
Thomson Reuters IFR Markets

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