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USD/JPY Analysis


Klimov

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As the greenback has retreated after intra-day rise to 113.01, suggesting minor consolidation below this level would be seen and test of 112.29 support cannot be ruled out, however, reckon downside would be limited to 111.95-00 and bring another rise later, above said resistance would extend the rise from 110.67 low to 113.20-25 and later towards 113.50 but near term overbought condition should limit upside and price should falter below strong resistance at 113.82.

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The greenback has remained confined within near term established range and further sideways trading above yesterday's low of 112.02, although test of 112.65-70 cannot be ruled out, reckon upside would be limited to the upper Kumo (now at 112.91) and price should falter well below 113.40-50, bring further choppy trading later.

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