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Jun 06 - 05:55 AM

USD/JPY - Chart Points To A Retest Of The 2022 Peak

By Martin Miller  —  Jun 06 - 03:40 AM
  • USD/JPY's big recovery closed above the 130.17 Fibo = bullish

  • 130.17 Fibo is, a 76.4% retrace of the May 131.35 to 126.37 (EBS) drop

  • Increasingly scope for much bigger gains above the 2022 131.35 peak

  • 14-day momentum had been negative since May 18, it turned positive last week

  • We are looking to get long on dips to 129.70, ahead of recent 129.52/69 lows

  • EUR/JPY sees a 139.85-140.35 Monday range so far, according to EBS data

  • USD/JPY Trader TGM2336 Previous USD/JPY update nL1N2XQ09O

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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