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Nov 09 - 05:55 AM

USD/JPY - Chart Darkens After A Daily Close Under A Key Fibo

By Martin Miller  —  Nov 09 - 04:05 AM
  • Daily chart darkens after the daily close under 113.28 Fibo

  • 113.28 Fibo is a 23.6% retrace of the 108.73 to 114.69 (Aug to Oct) rise

  • Scope for bigger losses to 112.41 Fibo, 38.2% of same 108.73 to 114.69 gain

  • 14-day momentum turned negative on Thursday for the 1st time since Sept

  • That highlights the shift in this market's outlook to the downside

  • USD/JPY Trader TGM2336. EUR/JPY EBS range, Tuesday, has been 130.71-131.23

Daily Chart Click here

Source:
Refinitiv IFR Research/Market Commentary

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