Explore eFXplus Derived Data That Drive Results
A Data Partner of:
Refinitiv
Jan 09 - 05:55 AM

USD/JPY's Outlook In The Balance, Bears Need Close Sub Key Fibo

By Martin Miller  —  Jan 09 - 03:40 AM
  • USD/JPY's outlook is in the balance as bulls try to stage a rebound

  • Spot dropped and closed under the 132.15 Fibo on Friday

  • 132.15 Fibo, a 50% retrace of the 129.51 to 134.78 (EBS) rise

  • Monday saw a break under the 131.52 Fibo, a 61.8% retrace of the same gain

  • A daily close under 131.52 Fibo needed to unmask the 130.75 Fibo (76.4%)

  • Failure to close under 131.52 Fibo would hint the downside risk is receding

  • USD/JPY Trader TGM2336. EUR/JPY range has been 140.19-141.31 on Monday

Source:
Refinitiv IFR Research/Market Commentary

Subscription

  • eFXplus
  • End-user license agreement (EULA)

About

  • About
  • Contact Us

Legal

  • Terms of Service
  • Privacy Policy
  • Disclaimer
© 2023 eFXdata · All Rights Reserved
!