By Randolph Donney — May 13 - 03:35 PM
USD/JPY's overbought uptrend from March finally corrected this week
Thur's drop toward kijun got RSIs midrange vs highest since 2001 in March
Rebound's probed the daily tenkan at 129.44, but capped at Wed's 129.455 low
Weekly on-close sell signal below 128.62 has been averted
Dip-buying bias while above late April low near 127 and 23.6% Fibo at 126.90
Close above Thur's 130.05 high would favor a retest of the 131.35 May peak
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Source:
Refinitiv IFR Research/Market Commentary