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USDJPY dives near 61.8% Fibonacci
USDJPY has been struggling to surpass the 148.50 resistance level over the last five days after the upward movement from the 140.20 support level. The pair is still holding above the 61.8% Fibonacci retracement level of the down leg from 151.90 to 140.20 at 147.40 and well above the simple moving averages (SMAs). However, the technical oscillators are suggesting a bearish retracement in the market. The RSI is pointing down above the neutral threshold of 50, while the MACD is moving horizontally beyond its trigger and zero lines. A successful climb above the 148.50 barricade could open the way for steeper increases ... (full story)