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Thomson Reuters
May 07 - 06:12 AM
USD/JPY - Will Likely Fill Gap Above, But Key Fibo Should Cap
First appeared on eFXplus on May 07 - 03:35 AM
  • Small gap, last Wed's 111.00 low and Mon's 110.96 peak needs to be filled
  • Once the small gap is filled bears can then reassert themselves
  • Daily close sub 110.34 Fibo, a 76.4% of 109.70-112.40 rise needed to weaken
  • Decent supply circa the 111.10 Fibo, a 38.2% of 112.40 to 110.29 recent drop
  • We have placed an offer at 111.00 to take advantage of recovery attempts
  • EUR/JPY range has been 123.81-124.25 range, according to prices on the EBS

USD/JPY Trader:

Daily Fibo Chart: Click here

Source:
Thomson Reuters IFR Markets

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