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Mar 25 - 06:12 AM

USD/JPY - Quadruple Close Above Fibo Unmasks 2019/2020 Highs

By Martin Miller  —  Mar 25 - 04:20 AM
  • USD/JPY's scope is for gains above the 112.23/112.40 (2020/2019) highs

  • USD/JPY registers four daily closes in a row above 109.62 Fibo = bullish

  • 109.62 Fibo is a 76.4% retrace of the 112.23 to 101.18 drop

  • Spot is also supported by rising daily cloud that now spans 109.63-110.26

  • Looking to get long on dips to 110.30 in anticipation for eventual gains

  • EUR/JPY sees 119.53-120.61. Prev nL1N2BH09G. USD/JPY Trader TGM2336

  • EUR/USD will not fully recover until it closes above a key Fibo nL1N2BI08G

Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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