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Feb 06 - 05:55 AM

USD/JPY - Gap Below Needs Filling Before Surge Above Key Fibo

By Martin Miller  —  Feb 06 - 03:35 AM
  • Spot closed above kijun line, midpoint of the last 26 trading days, Friday

  • Gap between Fri's 131.20 high and Mon's 131.52 low will need to be filled

  • Only then well USD/JPY stage a bigger recovery above the key 133.05 Fibo

  • 133.05 Fibo: 23.6% retracement level of 151.94-127.22 (Oct to Jan) EBS drop

  • Our short has been stopped at 131.20, await clearer signals

  • USD/JPY Trader TGM2336. Previous update nL1N34J0H8

  • EUR/JPY range has been 142.07-95, on Friday, so far

Source:
Refinitiv IFR Research/Market Commentary

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