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USDJPY – Break Above 114.00 To Signal An End Of Directionless N/T Mode, Daily Cloud Twist Would Attract Fresh Rallies

The pair remains neutral in the near term, leaving double-Doji in past two days, with the price action holding so far above strong support at 113.56 (Fibo 38.2% of 111.67/114.73 upleg).

Near-term price action is stuck between 113.56 and 114.00 (Fibo 38.2% and 23.6%) with mixed daily studies supporting directionless mode that may extend, as the pair is looking for firmer signals on US jobs data on Friday.

Break above initial pivot at 114.00 is needed to sideline downside risk and shift near-term focus higher and expose 114.50 zone, where daily cloud is twisting that may attract for further upside action.

Conversely, loss of 113.56 pivot and a cluster of supports, formed by 10/20/30 daily MA’s would generate stronger bearish signal.

Res: 114.14, 114.38, 114.50, 114.73
Sup: 113.56, 113.30, 113.00, 112.84

Windsor Brokers Ltdhttp://www.windsorbrokers.com/
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