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Mar 13 - 07:55 AM

USD/JPY - There Is A Hint Of A Downside Failure On The USD/JPY Chart

By Martin Miller  —  Mar 13 - 05:50 AM
  • USD/JPY big setback broke and closed under kijun line, recently

  • Daily kijun line, the midpoint of the last 26 sessions, remains at 148.68

  • Fourteen-day momentum remains negative, reinforcing the downside risk

  • Spot could not sustain the 146.83 Fibo break, hints at a downside failure

  • 146.83 Fibo, a 38.2% retrace of the 140.27 to 150.88 (Dec to Feb) EBS rise

  • EUR/JPY has seen a 160.93-161.69 range, on Wednesday, EBS data shows

  • USD/JPY Trader TGM2336. We are short at 147.60. Prev update nL2N3FQ0F5

Source:
Refinitiv IFR Research/Market Commentary

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