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Sep 12 - 05:00 AM
USD/JPY - Huge Fibo Caps USD/JPY, But A Bigger Rise Is Likely
First appeared on eFXplus on Sep 12 - 02:40 AM
  • USD/JPY rally hits 108.17 or 76.4% of the drop since July
  • 76.4% is the point of no return for any correction
  • Break above would suggest whole down move is unwound to 109.32
  • Close over 100-DMA would confirm bull target, probably 110.00 test
  • September usually sees USD/JPY rally
  • Bigger rise likely on unwind risk averse trades ahead Oct trade talks

USDJPY daily chart Click here

USDJPY shorts Click here

Source:
Refinitiv IFR Research/Market Commentary

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