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Thomson Reuters
Aug 09 - 07:24 AM
USD/JPY - Recovery Likely To Falter Ahead Of The Tenkan Line
First appeared on eFXplus on Aug 09 - 04:55 AM
  • Tenkan and kijun are negatively aligned, reinforcing overall bearish bias
  • Bears had been taking control bulls faltered ahead of the key 112.19 Fibo
  • 112.19, a 61.8% retrace of the 113.18 to 110.58 (EBS) fall
  • To take advantage of recovery moves we have lowered our offer to 111.40
  • Our offer is ahead of the daily tenkan line at 111.43
  • BOJ disagreement reports pushed USD/JPY longs to the brink nL1N1UZ08L

USD/JPY Trader:

Daily Fibo Chart: Click here

Source:
Thomson Reuters IFR Markets

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