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USD/JPY Harmonic Analysis

Technical Confluence

Accompanying the AB=CD pattern is price shaking hands with the lower Bollinger Band (set to three standard deviations) and the Relative Strength Index (RSI) exiting oversold territory. Therefore, the supporting technical confluence—momentum and volatility indicators—suggests a short-term push to the upside may unfold, targeting the aforementioned Fibonacci retracement ratios.

Charts: TradingView

Meanwhile, after consumer prices in the US cooled to 5.0% in the twelve months to March, the US dollar fell sharply, according to the US Dollar Index.


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The post USD/JPY Harmonic Analysis appeared first on LeapRate.



This post first appeared on Ironfx Review: An Overview, please read the originial post: here

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USD/JPY Harmonic Analysis

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