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Thomson Reuters
Nov 01 - 06:12 AM
USD/JPY - Drop Likely To Be Contained By Thick, Rising Cloud
First appeared on eFXplus on Nov 01 - 03:50 AM
  • Failed above 113.34 Fibo, a 61.8% retrace of the 114.55 to 111.38 Oct fall
  • This increases the near-term risk for further losses
  • Thickening and rising daily cloud, spans the 111.62-112.25 region
  • The daily cloud will likely prevent a deeper decline
  • Looking to get long on dips to 112.35 in anticipation of a bull resumption
  • USD/JPY's charge was halted by the key 113.34 Fibo

USD/JPY Trader:

Daily Fibo Chart: Click here

Source:
Thomson Reuters IFR Markets

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