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USD/JPY Mid-Day Outlook


Every day Pivots: (S1) 149.59; (P) 149.83; (R1) 150.33; Extra…

USD/JPY recovers additional as we speak however stays inside vary of 148.79/151.69. Intraday bias stays impartial for the second. Additional rally is predicted so long as 148.79 assist holds. Agency break of 151.69 excessive will resume bigger up development. Nevertheless, decisive break of 148.79 will point out rejection by 151.93 key resistance, and convey deeper fall by 147.28 assist.

Within the larger image, speedy focus is on 151.93 resistance (2022 excessive). Rejection by 151.93, adopted by sustained break of 145.06 resistance turned assist will argue that rise from 127.20 has accomplished, and switch outlook bearish for 137.22 assist and beneath. Nevertheless, sustained break of 151.93 will verify resumption of long run up development. Subsequent goal can be 61.8% projection of 102.58 to 151.93 from 127.20 at 157.69.

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