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Apr 21 - 04:55 AM

USD/JPY - At Growing Risk Of A Drop Under Key Fibo Support

By Martin Miller  —  Apr 21 - 03:09 AM
  • USD/JPY's sustained trading under 108.99 Fibo support is a bearish sign

  • 108.99 Fibo is 23.6% of the 102.60 to 110.97 (January to March) rise

  • The chance of a deeper setback through the 107.77 Fibo grows

  • 107.77 Fibo is 38.2% retrace of the same 102.60-110.97 gain

  • Looking to get short ahead of tenkan line at 108.92

  • USD/JPY Trader TGM2336. Previous update nL1N2M90CO

  • EUR/JPY has seen a 129.86-130.11 range on Wednesday according to EBS prices

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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