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Thomson Reuters
May 13 - 06:12 AM
USD/JPY - Downside Risk Grows For A Major Fibo, Cloud Weighs
First appeared on eFXplus on May 13 - 04:00 AM
  • USD/JPY's downside risk grows, scope for a drop to test major 109.23 Fibo
  • 109.23 Fibo is a 38.2% retrace of the 104.10 to 112.40 2019 (EBS) rise
  • Break and daily close below 109.23 Fibo will weaken underlying mkt structure
  • We are looking get short at 110.29, just ahead of 110.31 daily cloud base
  • EUR/JPY range has been 123.04-40. Previous USD/JPY update

USD/JPY Trader:

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Source:
Thomson Reuters IFR Markets

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