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Technical Outlook: USDJPY – Hourly Cloud Limits Recovery Attempts And Keeps Bearish Bias

The pair maintains bearish bias despite yesterday’s Hammer that could be seen as initial reversal signal. Bounce from yesterday’s low at 110.25 remains capped under thick falling hourly Ichimoku cloud (spanned between 110.77 and 111.25) and suggests consolidation before final attempts below key 110.00 support zone. Firm bearish setup of daily studies supports scenario. However, attack at 110.00 zone may be delayed on extension above hourly cloud and Friday’s close above weekly cloud top (111.36)

Res: 110.77, 111.05, 111.14, 111.36
Sup: 110.52;110.25, 110.09, 109.91

Windsor Brokers Ltd
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