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  |   Technicals


FxWirePro: USD/JPY Daily Outlook

Chart - Courtesy Trading View 

Technical Analysis: Bias Neutral

- USD/JPY trades rangebound above daily cloud

- The pair is holding support at 5-DMA, 5-DMA has turned bullish

- Price action is capped between 21 and 55 EMA

- Stochs are on verge of bullish rollover from oversold levels

- RSI flat around 50 mark, volatility is high

Support levels - 113.26 (5-DMA), 113.07 (38.2% Fib)

Resistance levels - 113.65 (21-EMA), 113.94 (20-DMA)

Summary: USD/JPY trades with a neutral bias. Daily cloud is offering strong support, break below will see more weakness.

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