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USDJPY Buyers Take Another Race To Pay For The Dirt


Buyers Mark Return Above Swing Levels / Highs

USDJPY rose yesterday due to higher rates and buying of US dollars. The pair moved above the old high dating back to October 20 at 114.691. The price also broke the November 2017 high at 114.728. It wasn’t until last week that the price returned above that November 2017 high, but fell short after hitting 114.96.

Yesterday’s high ended up stagnating from last week’s high near 114.961 and slipped back to the 114.728 level (November 2017 high) where buyers blocked the fall during the Asian session of today. Buyers leaned in and scored after breaking 2021 highs at 114.96 and expanding to 115.148.

However, the gains may once again not be sustained and prices have fallen back. Old highs (from October and November 2017 were broken again but a lower swing zone blocked the fall (red circles). The price rose during the London / early NY session of last week / yesterday at 114.961 Touchdown.

Can the dynamic be supported by buyers? Will the breakout above 114.96 and 115.69 to 114.728 hold and will buyers move more towards “dirty country”? (see related post on victory here).

Although there were some momentum swings in the game today, the buyers are aiming for a score and increasing their lead. The next major target on new momentum would look to 115.50, which was the March 5, 2017 high.

USDJPY Buyers Take Another Race To Pay For The Dirt

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