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USD/JPY

The FXDD Midday Forex Commentary reviews the major currency pairs

The EURUSD, GBPUSD, USDJPY, USDCHF, EURJPY and USDCAD are all reviewed in the Midday report. For a review of any other currency pair, send me an email at greg@fxdd.com.

USDJPY moves below 81.12. The 80.84-88 next target. 81.24 key resistance above

 

The USDJPY has moved below the 81.12 level and despite the strong Initial Claims, the price is remaining down. Watch the 100 and 200 hour MA at the 81.24 level for clues.

USDJPY continues to bump against 80.88 resistance

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The 80.84-88 level in the USDPY was the low water marks from October 15th to todays break.  A move back above the level should solicit some additional covering with the 81.00 and 81.12 the next upside targets.  The 81.12 was a floor level form most of the period from the 15th to the 18th. It is also where the 100 hour MA is currently found. Until the market breaks above the 80.88 level, however, there should be continued selling interest.

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