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Oct 01 - 03:55 AM

USD/JPY - Saw Big Reversal, Close Under A Key Fibo, Outlook Mixed

By Martin Miller  —  Oct 01 - 02:01 AM
  • USD/JPY saw a big reversal after it hit 112.08, a new 2021 high on Thursday

  • Spot closed under 111.38 Fibo, 23.6% of the 109.12 to 112.08 September rise

  • That has turned the outlook from bullish to mixed

  • Bulls will hope that the 110.95 Fibo (38.2%) support holds

  • Above 110.95 would keep the bias on the 112.23/40, 2020/2019 highs

  • EUR/JPY has seen a 128.67-129.02 range so far. USD/JPY Trader TGM2336

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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