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USD/JPY Eyes Key 200-Day MA Support At 97.20

USD/JPY Eyes Key 200-Day MA Support At 97.20

USD/JPY eyes key 200-day MA support, 97.20

  • Wednesday erosion after a reluctant rebound effort on Tuesday and thus far this week, with the bearish outside pattern last Thursday still weighing, having setback from the flagged 99.10 resistance.
  • Whilst below this chart barrier at 99.10, and now through minor 97.55/50 support, we see the prior reversal below the trend line from June favouring a move still lower into latter Oct.
  • Risk is through the 200-day MA, now 97.20 and potentially towards the 95.80 August low, which should provide solid support.

WHAT CHANGES THIS?

  • Only above 99.10 signals a neutral tone; through 99.65 needed for bull pressures.

Please see latest audio-visual analysis here:

Daily

USD/JPY” title=”Daily USD/JPY” height=”475″ width=”630″>

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