Friday, October 16, 2026

Technicals

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USD/JPY hourly Cloud base has been rejecting rallies

Source: Thomson Reuters USD/JPY likely squeezed between up TrendLine & hourly Cloud Year's up TrendLine held Tues's low, now at 119.30 & key lower pivot; stops sub 119 Hourly Cloud base has been rejecting rallies, last a…

By Jay L. Zagorsky
1 min read
USD/JPY hourly Cloud base has been rejecting rallies
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Source: Thomson Reuters


  • USD/JPY likely squeezed between up TrendLine & hourly Cloud

  • Year's up TrendLine held Tues's low, now at 119.30 & key lower pivot; stops sub 119

  • Hourly Cloud base has been rejecting rallies, last at 119.60, but about to bottom

  • Pair may see support from  1.9bln of 120 expiries, but fighting broad USD weakness

  • 2nd tier & Feb US data unlikely to have much impact, 2-yr yield spread up  

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