1296 has shown as a significant pivot on many an occasion judging by the number of bounces around this level. Bulls seem to be in control now. A close above this level could see further gains. The bullish view is supported by USDJPY (high -ve correlation) which rolling over and with risk of reversal for equity indices and flight to safety rising.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.