Forex - Chart USD/JPY Update: Short-term reactions - lower later


 09:51 (GMT) 15 Nov

  [Forex Charts]

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Chart USD/JPY Update: Short-term reactions - lower later (0101-PRRF-C01)

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Asterisk denotes strength of level

09:45 GMT - The break below the 108.50 intraday MA is finding support at 108.23, whilst oversold intraday studies unwind. A short-term corrective bounce is now unfolding, targeting 108.80, but negative daily and weekly readings should limit any break in fresh selling interest. Following reactive gains, prices are expected to continue lower towards 108.00 and the 107.87 low of 1 November. A close beneath here will confirm a deeper correction of the August-November rally.


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