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Apr 03 - 05:55 AM

USD/JPY - Pressure Building Behind Any Breakout

By Peter Stoneham  —  Apr 03 - 04:15 AM
  • USD/JPY continues to pan out sideways below the 152.00 level

  • The eleven day bout of consolidation has sapped upside momentum

  • Topside break out could trigger a squeeze and bring a major Fibo into play

  • A 38.2% Fibo retrace of 277.65-75.5 is at 152.75

  • A drop under 151.00, Mar. 22 low (EBS), would damage the upside bias

  • We look to go with a breakout

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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