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USDJPY pivots north but don’t get excited yet

From xm.com

{video}USDJPY turned green after its latest sharp bearish wave paused at an almost two-month low of 130.38 on Tuesday, with the price quickly recouping Monday’s losses in the aftermath. While the RSI and the Stochastic oscillator are flagging oversold conditions as the indicators pivot northwards after tumbling to 30 and 20 respectively, there are several obstacles ahead, which could still ruin any additional bullish efforts. First, the pair remains trapped within the Ichimoku cloud for the third consecutive day and below the 133.20 level, while not far above, the red Tenkan-sen line could also squeeze the pair with ... (full story)

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  • Category: Technical Analysis