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USD/JPY pair surges to a fresh multi-year high - FXStreet

FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet notes the USD/JPY pair surging to 116.82, a fresh multi-year high, extending their early gains.

Key Quotes

"Technically, the pair’s 1 hour chart shows indicators grinding higher above their midlines, whilst 100 and 200 SMAs remain for the most horizontal below current price."

"In the 4 hours chart indicators head higher in positive territory, with RSI looking a bit exhausted near 75 but with no other sign the pair may retrace."

"Bigger time frames also favor the upside, eyeing now 117.46, April 2007 monthly low, on a break above the 117.00 figure."

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