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Jul 07 - 05:55 AM

USD/JPY - Finds Support, But The Close Under Key Fibo A Danger

By Martin Miller  —  Jul 07 - 04:14 AM
  • Setback found support just under the daily kijun line that is now at 110.43

  • As the tenkan and kijun lines remain positive aligned = outlook bullish

  • Bulls should be mindful, however, as there was a close under 110.67 Fibo

  • 110.67 Fibo is 23.6% trace of the 107.48 to 111.66 (April to July) EBS rise

  • EUR/JPY sees 130.50-130.97 on EBS. USD/JPY Trader TGM2336nL2N2OI0EE

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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