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Thomson Reuters
Jan 14 - 05:00 AM
USD/JPY - Poor China Data Stokes USD/JPY's Downside Risk, Fibo Eyed
First appeared on eFXplus on Jan 14 - 02:45 AM
  • Poor China trade data saps risk appetite nL3N1ZE1RI, feeding yen demand
  • Spot drops from 108.60 to hit 108.05 on Mon, according to prices on the EBS
  • 109.16 Fibo weighs. Decent offers up to the 109.10-20 region nL1N1ZB064
  • 109.16 Fibo is 50% of the 114.21 to 104.10 (November to January) fall
  • Bears need a daily closed sub the 107.91 Fibo (23.6% of 104.10-109.09 rise)
  • Big NY cut expiries: 108.00-15 (1.1BLN), 108.50-60 (800M), 108.65-75 (650M)

USD/JPY Trader:

Daily Fibo Chart: Click here

Source:
Thomson Reuters IFR Markets

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