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USDJPY returns to neutrality; bulls keep waiting above 109.50
video USDJPY spiked above the 200-day simple moving average (SMA) and the 109.00 level on Wednesday but failed to close above it, with the price resuming its previous sideways move. Technically, traders could remain indecisive in the short-term as the RSI is converging towards its 50 neutral mark, the MACD is flattening around its signal line, and the Ichimoku indicators (Kijun-sen and Tenkan-sen) are stabilizing. As long as the above indicators remain in the bullish area, upside corrections cannot be ruled out. Traders, however, would like to see a decisive rally above the 200-day SMA and more importantly above ... (full story)