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May 03 - 05:55 AM

USD/JPY - On Course To Break Key Fibo Resistance Above 110.00

By Martin Miller  —  May 03 - 03:36 AM
  • USD/JPY probes the 109.64 Fibo after Fri's close above kijun-line at 109.23

  • 109.64 Fibo is 61.8% of the 110.97 to 107.48 (March to April) EBS drop

  • A daily close above 109.64 Fibo could see an overshoot above the 110.15 Fibo

  • 110.15 Fibo is a 76.4% retrace of the same 110.97 to 107.48 fall

  • Layers of support between 108.44/71, Friday/Monday lows, underpin

  • USD/JPY Trader TGM2336. Previous update nL1N2MN0B9

  • EUR/JPY has seen a 131.35-96 range on Monday according to EBS prices

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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