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Nov 24 - 06:55 AM

USD/JPY - Chart Is Bullish, Market Could Overshoot Above 116

By Martin Miller  —  Nov 24 - 05:32 AM
  • USD/JPY has broken through the 115.00 psychological level

  • Scope grows for much bigger gains towards the 115.51 March 10 2017 high

  • There is a good chance of an overshoot to the 116.00 psychological level

  • The kijun and tenkan lines are increasingly positive aligned = bullish

  • Fourteen-day momentum remains positive, reinforcing the bullish bias

  • USD/JPY Trader TGM2336. EUR/JPY EBS range, Wed, has been 128.70-129.55

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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