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USDJPY indecisive between key boundaries
USDJPY used the support around 109.10 once again to stand on its feet on Wednesday after two days of declines. The tough resistance trendline drawn from the top of 111.65 remains the main target at 110.00, and the pair’s resilience above 109.00 increases the odds for an upside breakout. But the momentum indicators are not fully in line with this narrative. The RSI is below its 50 neutral mark and continues to swing in a range. The Stochastics are also following a horizontal trajectory, while the MACD is hovering around a former support area below its zero and signal lines, flagging a neutral-to-bearish short-term ... (full story)