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USD/JPY Mid-Day Outlook

usd/jpy-mid-day-outlook

Every day Pivots: (S1) 146.08; (P) 146.70; (R1) 147.80; Extra…

Intraday bias in USD/JPY stays on the upside at this level. Present rise from 140.25 ought to goal 151.89/93 key resistance zone subsequent. On the draw back, beneath 146.40 minor help will flip intraday bias impartial first. However additional rally will stay in favor so long as 55 D EMA (now at 145.67) holds.

Within the greater image, stronger than anticipated rebound from 140.25 dampened the unique bearish overview. Robust help from 55 W EMA (now at 141.89) can also be a medium time period bullish signal. Fall from 151.89 could possibly be a correction to rise from 127.20 solely. Decisive break of 151.89/93 will affirm resumption of long run up development. This may now be the favored case so long as 140.25 help holds.

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