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Oct 28 - 03:55 AM

USD/JPY - At Risk Of A Bigger Slump After Close Under Key Fibo

By Martin Miller  —  Oct 28 - 02:45 AM
  • USD/JPY bears have forced a daily close under the key 104.50 Fibo

  • 104.50 Fibo is a 76.4% retrace of the 104.00 to 106.11 (Sept to Oct) gain

  • That has increased the odds of a bigger slump to test the major 103.67 Fibo

  • 103.67 Fibo is a 76.4% retrace of the 101.18 to 111.71 March (EBS) rise

  • We are now short at 104.95. USD/JPY Trader TGM2336

  • Previous nL1N2HI0HM. EUR/JPY 122.75-123.16 range so far this session

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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