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Mar 03 - 05:55 AM

USD/JPY - Chart Warns That Things Could Take A Turn For The Worse

By Martin Miller  —  Mar 03 - 03:57 AM
  • A USD/JPY "cloud twist" on March 4 well under 104.00 warns of bearish moves

  • However, the sustained break above 106.08 Fibo alleviating the downside risk

  • 106.08 -- 38.2% of the 111.71 to 102.60 (March 2020 to January 2021) drop

  • We are looking to get short at 107.05, right at the August 13 2020 peak

  • USD/JPY Trader TGM2336. Previous update nL2N2L00G4

  • EUR/JPY has seen a 128.97-129.30 range on Wednesday, according to EBS prices

Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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