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USD/JPY Finds Support

STO

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USD/JPY may have been through something of a technical sell-off, but support has come through in the form of the 200 day moving average and the 50% retracement of the June-December ’16 rally. Failure to break higher could open the way for a return to recent lows around 108.12.


AUD/USD has moved back above the 200 day moving average, but a renewed break below here would open the way for a slide down to the 0.7450-0.7475 region reflecting recent lows and the 50% retracement of the Q1 rally.


This article comprises the personal view and opinion of the STO Investment Research Desk and at no time should be construed as Investment Advice.

STO Review

Source: https://www.stofs.com/en/newsroom/entry/TECHNICAL/usdjpy-finds-support/?camp=24219
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