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Jan 10 - 04:55 AM

USD/JPY - Found Solid Support Ahead Of A Key Fibo: Bullish

By Martin Miller  —  Jan 10 - 02:50 AM
  • Tenkan and kijun lines are positive aligned, 14-day momentum also positive

  • There are key support levels at the 114.89/115.45 Fibos

  • Friday's drop was limited to 115.52, just ahead of the 115.45 Fibo

  • 114.89/115.45 Fibos are 38.2%/23.6% of the 112.54-116.35 (Nov-Jan) EBS rise

  • However, a break and daily close under 114.89 Fibo will be a bearish sign

  • USD/JPY Trader TGM2336. EUR/JPY has seen a 131.19-31 range on Monday

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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