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Feb 06 - 03:48 AM

USD/JPY - Bulls Have The Chance To Conquer A Major Fibo Above 110

By Martin Miller  —  Feb 06 - 02:20 AM
  • USD/JPY bulls continue the recovery from the Jan 31 108.31 low

  • Low was just ahead of 108.28 Fibo, 76.4% of the 107.65 to 110.30 (EBS) rise

  • Scope for Jan 22 110.10 high and 110.30 Jan 17 peak grows

  • Above these highs unmasks 110.53 Fibo, major 76.4% of 112.40 to 104.46 drop

  • FX traders should watch out for bigger USD/JPY gains nL1N2A50AH

  • EUR/JPY sees 120.70-120.94. Prev nL1N2A5072. USD/JPY Trader TGM2336

Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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