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Apr 04 - 06:55 AM

USD/JPY - Chart Points To A Market That Could Soar

By Martin Miller  —  Apr 04 - 04:50 AM
  • USD/JPY found support at 121.28 last week, ahead of the 121.02 Fibo

  • 121.02 Fibo is a 38.2% retrace of the 114.41 to 125.10 March (EBS) rise

  • Initial scope for gains above last Wednesday's 123.20 high

  • A 123.20 break would in turn accelerate the market even higher

  • 14-day momentum is positive, reinforcing the underlying bullish market

  • Also the tenkan and kijun lines are increasingly positive aligned

  • EUR/JPY sees a 135.13-135.64 Monday range so far, according to EBS data

  • USD/JPY Trader TGM2336 Previous update nL2N2VZ0DK

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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