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Mar 05 - 04:55 AM

USD/JPY - Stays Above A Broken Fibo For 18 Days In A Row: Bullish

By Martin Miller  —  Mar 05 - 02:55 AM
  • USD/JPY has scope for bigger gains to test 2023/2022 151.92/94 peaks

  • Spot has traded above the 149.17 Fibo for 18 sessions in a row = bullish

  • 149.17 Fibo is a 76.4% retrace of the (Nov-Dec) 151.92-140.27 (EBS) drop

  • The long tail on last Thursday's candle is a rejection of the downside

  • EUR/JPY has seen a 163.05-163.37 range, on Tuesday, EBS data shows

  • USD/JPY Trader TGM2336. Previous update nL2N3FI0GX

Source:
Refinitiv IFR Research/Market Commentary

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