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Jan 19 - 04:55 AM

USD/JPY - Continued Trading Above A Broken Fibo Is Very Positive

By Martin Miller  —  Jan 19 - 02:45 AM
  • USD/JPY, this week, managed to close and remain above the 147.47 Fibo

  • 147.47 Fibo, a 61.8% retrace of the 151.92 to 140.27 (Nov-Dec) EBS fall

  • The scope is growing for much bigger gains to retest 149.17 Fibo

  • 149.17 Fibo, a 76.4% retrace of the same 151.92 to 140.27 drop

  • 14-day momentum remains positive, reinforcing the overall bullish bias

  • USD/JPY Trader TGM2336. Previous update nL1N3E80O4

Source:
Refinitiv IFR Research/Market Commentary

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