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Mar 17 - 04:55 AM

USD/JPY - Bulls Could Be Gearing Up For A Charge At A Major Fibo

By Martin Miller  —  Mar 17 - 03:17 AM
  • USD/JPY bullish after multiple daily closes above the 108.23 Fibo

  • 108.23 Fibo a 61.8% retrace of 111.71 to 102.60 (Mar 2020 to Jan 2021) fall

  • Scope grows for bigger gains to the 109.56 Fibo, 76.4% of the same drop

  • Fourteen-day momentum remains positive, reinforcing the bullish bias

  • Dollar bears could be dealt a heavy blow by the Fed nL1N2LE0J9

  • USD/JPY Trader TGM2336. Previous update nL1N2LE0AQ

  • EUR/JPY has seen a 129.74-129.93 range on Wednesday, according to EBS prices

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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