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Jun 24 - 04:55 AM

USD/JPY - Chart Points To Bigger Gains To New 2024 Highs

By Martin Miller  —  Jun 24 - 03:05 AM
  • USD/JPY managed last week to break and register a close above 158.26 Fibo

  • 158.26 Fibo is a 76.4% retrace of the 160.24-151.86 (April-May) EBS fall

  • That increases the scope for much bigger gains well above 2024 160.24 peak

  • 14-day momentum remains positive, reinforcing the overall bullish market

  • We are looking to get long on big dips to 157.20. USD/JPY Trader TGM2336

  • EUR/JPY has seen a 170.68-171.03 EBS range, on Monday, so far

Source:
Refinitiv IFR Research/Market Commentary

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