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USDJPY
- USD/JPY traded it its highes level in almost 6 years today before stalling near the 127% extension of the 1Q14 range
- Our near-term trend bias remains higher in the rate while above 104.70
- A close over 106.45 is need to set off the next leg higher in the advance
- An important turn window is eyed mid-month
- A close below 104.70 would turn us negative on USD/JPY
Instrument | Support 2 | Support 1 | Spot | Resistance 1 | Resistance 2 |
---|---|---|---|---|---|
USD/JPY | 104.70 | 105.80 | 106.15 | 106.45 | 106.75 |