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Jan 24 - 05:00 AM

USD/JPY's Slide Could Extend To The Thick Cloud And Key Fibo

By Martin Miller  —  Jan 24 - 02:45 AM
  • USD/JPY could slide to daily cloud, now spanning the 108.38-109.05 region

  • Further support is at 108.98 Fibo, a 50% of the 107.65-110.30 January rise

  • Our buy order is at 109.10, as these levels could stem the bleed

  • Once this correction ends, the underlying bullish cycle then extend

  • Scope for an eventual retest 110.53 Fibo, 76.4% of 112.40 to 104.46 EBS drop

  • EUR/JPY sees 120.96-121.12 Fri. Prev nL1N29S051. USD/JPY Trader TGM2336

Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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