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Dec 17 - 02:55 AM

USD/JPY - Two Closes In A Row Above A Broken Fibo Is Very Bullish

By Martin Miller  —  Dec 17 - 01:35 AM
  • On Friday and Monday USD/JPY rose to register a close above the 153.66 Fibo

  • 153.66 Fibo is a 61.8% retrace of the 156.76 to 148.65 (EBS) drop

  • That increases the scope for eventual bigger gains through the 154.85 Fibo

  • 154.85 Fibo is a 76.4% retrace of the same 156.76 to 148.65 fall

  • The thickening and rising daily cloud support, now spans 147.25-152.12

  • We are long at 151.10 for 154.90, our trailing stop is now at 153.60

  • USD/JPY Trader TGM2336. Previous update nL1N3NH007

Source:
London Stock Exchange Group | Thomson Reuters

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