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Jan 18 - 04:55 PM

USD/JPY - Bearish Techs Reaffirmed By Failed Rally, Shorts Eye Key Fibo

By Randolph Donney  —  Jan 18 - 02:30 PM

  • Short tech trade in play taken amid Wednesday's brief spike up to 131.58

  • That high was capped by the falling 21-DMA. Stop now above there

  • Wed's 127.57 low on EBS got most of the way to the 126.80 objective

  • That target is ahead of the key 50% Fibo of the 2020-22 uptrend at 126.56

  • May trail the stop into profit if Mon's 127.215 trend lows hold 2nd test

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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