From one point of view, the overnight bounce from the key 140.00 level and the subsequent head around the key 155.89 level could favor the ninja bulls in the short term. That said, daily oscillators in mixed territory lead traders to be cautious before positioning for any further intraday appreciation move, suggesting that the dollar-yen may face some resistance around the 155.89 yearly level. Nonetheless, a clear close above the yearly level mentioned earlier would lead the bulls to reach the key 158.00 level.
Conversely, a bounce from 155.89 could drag the ninja first towards the key 154.00 level and, with a close below it, would allow the bears to attempt to clear the 151.90 yearly level.
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