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Jul 12 - 07:55 AM

USD/JPY - Failed To Close Under Broken Fibo, But Bias Bearish

By Martin Miller  —  Jul 12 - 06:04 AM
  • Bears could not build on Thursday's biggest one-day fall since last Nov

  • They failed to force a daily close under the 109.57 Fibonacci level

  • 109.57 Fibo is a 50% retrace of the 107.48 to 111.66 (April to July) rise

  • However the market remains under the tenkan line that is now at 110.60

  • While under tenkan line keeps the overall risk remains on the downside

  • EUR/JPY sees 130.49-130.86 on EBS. USD/JPY Trader TGM2336nL2N2OK0FI

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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