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Mar 02 - 05:55 PM

USD/JPY - Got Awfully Close To The Fibo Fade Trade Spot Today

By Randolph Donney  —  Mar 02 - 03:21 PM
  • USD/JPY ran into overbought pressures near key hurdles at 107.05/08/16

  • August's high and 61.8% Fibo of the June-January slide are at 107.05/08

  • The 50% Fibo of the March-January drop is also at 107.16

  • Failure to close above 107.08/16 would trigger an overdue correction

  • Support's at the 50% Fibo of the Jun-Jan drop and Feb. 17 EBS high at 106.22

  • The Feb. 22 high and Feb. 25 and 26 lows at 105.84-85 are secondary support

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Source:
Refinitiv IFR Research/Market Commentary

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