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Thomson Reuters
Jun 06 - 07:24 AM
USD/JPY - Bulls Need To Overcome Key Fibo And 200-DMA Soon
First appeared on eFXplus on Jun 06 - 05:10 AM
  • USD/JPY bulls have grappled with the 110.14 Fibo level, hit 110.15 so far
  • 110.14 Fibo -- 61.8% retrace of the 111.39 to 108.12 fall
  • Bulls need a close above 110.14 and the 200-DMA at 110.19 to strengthen
  • Market has registered two successive daily closes above the 109.76 Fibo
  • 109.76 -- 50% of the same 111.39 to 108.12 drop
  • Market remain a buy on dip, but are standing aside for now

USD/JPY Trader:

Daily Fibo Chart: Click here

Source:
Thomson Reuters IFR Markets

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