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Sep 27 - 02:36 PM
USD/JPY - Bid Holding As Traders Look To A Major Fibo Target
First appeared on eFXplus on Sep 27 - 10:20 AM
  • Off its 108.18 high but a Frid close above converged 10-100DMAs possible

  • Bears in retreat after the rebound out of 106.94 Fibo: 38.2% 104.48-108.48

  • Another key Fibo gives an upside tgt: 108.43 50% 112.40-104.46 Apr-Aug drop

  • Sept can be a month for USD/JPY gains: Gotobi usually drives mth-end flow

  • Monday action likely to see bulk of month-end flow: traders still short USD

  • Much now depends on Oct trade talks: deal needed to trigger another up-leg

  • Related content: nL2N26I055nL2N26I066nL2N26I06V



USD/JPY Daily Candle Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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