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Jun 08 - 03:55 AM

USD/JPY - Bulls Eye A Major Fibo Well Above 110

By Martin Miller  —  Jun 08 - 02:25 AM
  • USD/JPY has closed above the 109.53 Fibo on Friday = bullish sign

  • 109.53 Fibo is a 61.8% of the 111.71 to 105.99 (March to May) EBS drop

  • USD/JPY can build on gains after overcoming 200-DMA, at 108.44, last week

  • Scope is for an eventual retest of the major 110.36 Fibo

  • The 110.36 Fibo is a 76.4% of the same 111.71 to 105.99 drop

  • We are looking to get long on dips to 109.10. USD/JPY Trader TGM2336

  • EUR/JPY has seen a 123.50-124.04 range, according to prices on the EBS

  • A simple option to ride an extended risk rally nL1N2DH0EI

Daily Bollinger Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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