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Oct 08 - 01:55 PM

USD/JPY - Hits Highest Since 2020 Peak, Pullback A Buy, 112 Key On Close

By Randolph Donney  —  Oct 08 - 11:54 AM
  • Looking to buy a pullback in USD/JPY toward Friday's low & daily tenkan

  • Prices have hit their highest since 2020's 112.23 spike high

  • That after a perfect 38.2% Fibo correction of the Aug-Sept advance

  • May be one more dip if 112.23 or 2019's 112.40 peak hold initially

  • A weekly close above 61.8% Fibo of 2016-20 slide at 112.00 also a buy

  • It would open the door to the 76.4% and 2018's high at 114.535/55 on EBS

For more click on FXBUZ


Chart Click here

Chart Click here

Source:
Refinitiv IFR Research/Market Commentary

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