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Mar 23 - 03:55 AM

USD/JPY - REFILE-BUZZ-USD/JPY Chart Bullish As Trading Remains Above Major Fibo

By Martin Miller  —  Mar 23 - 03:00 AM

Amended chart

  • USD/JPY is trading comfortably above the 119.52 major Fibo

  • 119.52 Fibo is a 76.4% retrace of 125.86 to 99.00 (2015 to 2016) drop

  • A close at the end of this week above the 119.52 Fibo would be very bullish

  • That would increase the likelihood of further gains towards 2015 125.86 peak

  • We have raised our bid to 120.20 in order to take advantage of market dips

  • EUR/JPY sees a 133.25-133.82 Wednesday range so far, according to EBS data

  • USD/JPY Trader TGM2336 Previous update nL2N2VP0DX

Weekly Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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