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Aug 07 - 06:12 AM
USD/JPY's "bear Trap" Risk Grows, Beware Potential Squeeze
First appeared on eFXplus on Aug 07 - 03:50 AM
  • Bears have not convincingly sustained recent break, close sub 106.06 Fibo
  • The "bear trap" risk growing, there could be bigger nr-term squeeze higher
  • 106.06 Fibo is a 76.4% retrace of the 104.10 to 112.40 2019 rise
  • Short at 106.45, mindful of raised volatility, stop above Tue's 107.11 high
  • USD/JPY has seen a 105.94-106.46 range, according to prices on the EBS
  • EUR/JPY range has been 118.75-119.27. Previous USD/JPY update

USD/JPY Trader:

Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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