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USD/JPY Weekly Suggests Risk-On Sentiment

Written by By Boris Schlossberg | 2019-04-15 09:18:13 GMT

The below is the weekly chart of the USDJPY.  Last week’s candle (blue arrow) indicates that bears sold the pair down until the low for the week was reached. The bears than lost control to the bulls who bid price up, with the week ending with the bulls in control. The RSI(9) remains above 50, which is on the bullish side of the indicator. The flow of funds out of JPY, generally considered a safe-haven, suggests that sentiment is currently weighted towards risk-on.

Chart

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By Boris Schlossberg
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