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Jan 13 - 05:55 AM

USD/JPY - Chart Negative After The Biggest Drop Since November

By Martin Miller  —  Jan 13 - 03:40 AM
  • On Wednesday USD/JPY saw the biggest one-day drop since November 26

  • Market fell 67 pips, on the EBS, to break and close under the 114.89 Fibo

  • 114.89 Fibo is a 38.2% retrace of 112.54-116.35 (November to January) rise

  • A daily close under the broken 114.45 Fibo, 50% of the same rise, needed

  • Immediate supply comes in at the kijun line now at 114.75

  • USD/JPY Trader TGM2336. EUR/JPY sees a 131.01-131.35 range on Thursday

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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