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Thomson Reuters
Apr 29 - 06:12 AM
USD/JPY - Propped By Convergence Of 30-DMA, Fibo And Daily Low
First appeared on eFXplus on Apr 29 - 03:55 AM
  • USD/JPY underpinned by the huge 111.37 level, last Thursday's low
  • The 30-DMA is also at 111.37, which has converged with a key Fibo
  • 111.37 Fibo is 38.2% retrace of the 109.70 to 112.40 (March to April) rise
  • We are long at 111.65 for gains to 112.75, while our stop remains at 111.29
  • A break and daily close below 111.37 will weaken the market
  • EUR/JPY range has been 124.40-80. Previous USD/JPY update nL1N22803N

USD/JPY Trader:

Daily Fibo Chart: Click here

Source:
Thomson Reuters IFR Markets

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