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Jun 01 - 05:55 AM

USD/JPY - Chart May Become More Bullish If A Key Fibo Is Overcome

By Martin Miller  —  Jun 01 - 04:00 AM
  • March higher breaks 129.44 Fibo, a 61.8% of the May 131.35-126.37 (EBS) drop

  • A daily close above 129.44 Fibo would unmask the 130.17 Fibo

  • 130.17 Fibo is a 76.4% retrace of the same 131.35-126.37 fall

  • 14-day momentum has been negative since May 18, on course to turn positive

  • That would further shift the overall bias back to the upside

  • EUR/JPY sees a 138.16-97 Wednesday range so far, according to EBS data

  • USD/JPY Trader TGM2336 Previous USD/JPY update nL1N2XN0F5

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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