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Mar 23 - 06:12 AM

USD/JPY - Could Be On The Verge Of A Surge Higher As Cloud Props

By Martin Miller  —  Mar 23 - 04:30 AM
  • USD/JPY has registered two daily closes above the 109.62 Fibo

  • Which in turn has unmasked the 2020 112.23 peak posted back on February 20

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

  • Looking to get long on dips to 109.70 in anticipation for further gains

  • Our bid is above daily cloud that currently spans the 108.98-109.52 region

  • USD/JPY has seen a 109.67-111.26 range, according to prices on the EBS

  • EUR/JPY sees 117.77-118.45. Prev nL1N2BD08S. USD/JPY Trader TGM2336

Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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