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Dec 01 - 02:55 AM

USD/JPY's Slump Unmasks A Major Fibo, Outlook Darkens

By Martin Miller  —  Dec 01 - 02:20 AM
  • Daily chart's outlook has darken considerably due to the latest slump

  • Thursday's losses means our 138.80 short met its target at 136.60

  • Fourteen-day momentum is negative, reinforcing the bearish bias

  • Expectation is for losses through a major 135.48 Fibo

  • 135.48 Fibo is a 76.4% retrace of the 130.40-151.94 (Aug-Oct) EBS rise

  • USD/JPY Trader TGM2336. Prev nL1N32Q0H2

  • EUR/JPY range has been 142.11-143.75, on Thursday, according to EBS prices

Source:
Refinitiv IFR Research/Market Commentary

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