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Japanese Yen Short-term Outlook: USD/JPY Bears Charge Uptrend Support
The US Dollar is off more than 2.2% against the Japanese Yen since the post-election monthly highs in USD/JPY with price now testing initial trend support. This is the first line of defense for the bulls. Battle lines drawn on the USD/JPY daily & 240min technical charts. Technical Outlook: In my last Japanese Yen Technical Forecast we noted that USD/JPY was testing confluent resistance and that the, “immediate advance may be vulnerable into the November open. Ultimately, we’re on the lookout for an exhaustion low in the weeks ahead. From trading standpoint, losses should be limited to 148.73 for the September ... (full story)
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- Posted: Nov 19, 2024 10:38am
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 5,635
