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Thomson Reuters
Oct 12 - 05:00 AM
USD/JPY - A USD/JPY Close Above Kijun Line Should Lead To Buying Next Week
First appeared on eFXplus on Oct 12 - 02:45 AM
  • Outlook is mixed as bears failed to register a daily close below 112.16 Fibo
  • 112.16 is a 50% retrace of the 109.78 to 114.55 (August to October) EBS rise
  • That marginal failure occurred despite the clean break below 112.16 on Thurs
  • A daily close back above the kijun line, now at 112.47, would be positive
  • Would put bulls in a better position to stage a bigger recovery next week
  • Speedy collapse would have extended with a close below 112.16

USD/JPY Trader:

Daily Fibo Chart: Click here

Source:
Thomson Reuters IFR Markets

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