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Oct 27 - 05:55 PM

USD/JPY - Shorts Eyeing 104.50 Fibo On Close For Test Of Key 104 Lows

By Randolph Donney  —  Oct 27 - 03:50 PM
  • USD/JPY is nears NY close right by 76.4% Fibo support at 104.50

  • The 104.39 EBS low held just above October's 104.345 low from 21st

  • 104.50 is 76.4% of Sep-Oct 104-6.11 rise; 104 eyed on a close below it

  • Prices a bit oversold intraday, staving off a deeper dive for now

  • Monday's 105.055 high was right on key hurdles bears sold into

  • Downtrend from March peak, better defined by down TL from July's high

  • That trendline capped October's high at 106.11, at 105.70 on Wednesday

    For more click on FXBUZ

Chart Click here

Source:
Refinitiv IFR Research/Market Commentary

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