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USDJPY turns up, but is the rebound sustainable?
video USDJPY found new buyers near its 200-day simple moving average (SMA) at 143.40 on Tuesday, drifting higher to close mildly positive on the day. Upside pressures persisted early on Wednesday, bringing the important 144.70 region, which coincides with the 38.2% Fibonacci retracement of the previous downleg, back under examination. A durable move above that border could be the key for an extension towards the 146.00 round level and the 50-day SMA, while higher the door will open for the 61.8% Fibonacci mark of 147.45. The upturn in the RSI and the MACD is a positive signal that buying confidence is improving. ... (full story)