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May 23 - 04:55 AM

USD/JPY - Bulls Could Be Set To Charge At A Major Fibo Above

By Martin Miller  —  May 23 - 02:35 AM
  • USD/JPY's large gains last Wed and Thurs highlights the bullish market

  • 14-day momentum remains positive, reinforcing the upside potential

  • Scope grows for an eventual 139.58 Fibo probe in coming sessions

  • 139.58 Fibo is a 50% retrace of the 151.94-127.22 (Oct-Jan) (EBS) drop

  • Upside bias should persist while Thursday's 137.29 low remains intact

  • USD/JPY Trader TGM2336. Previous update nL1N37J0EC

  • EUR/JPY has seen a 149.57-150.00 (EBS) range so far on Tuesday

Source:
Refinitiv IFR Research/Market Commentary

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