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Thomson Reuters
Dec 05 - 05:00 AM
USD/JPY's Biggest Black Candle Since July Closes Under Key Fibo
First appeared on eFXplus on Dec 05 - 03:10 AM
  • On Tuesday USD/JPY formed the biggest daily black candlestick since July 20
  • The size the black candlestick highlights the magnitude of the bearish turn
  • The market registered a daily close well below the 112.96 Fibonacci level
  • 112.96 Fibo is a 61.8 percent retrace of the 112.30 to 114.03 recent gain
  • Layers of resistance between 113.20/34 region which should cap recovery
  • Dollar longs had been exiting in favour of the yen nL1N1Y90BV

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