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Feb 23 - 07:55 AM

USD/JPY - The Stars Align For A Much Higher USD/JPY In Coming Sessions

By Martin Miller  —  Feb 23 - 06:15 AM
  • Yen sinks as currency traders keep short and carry on nL2N3F80GF

  • USD/JPY has seen a 150.39-150.77 range, on Friday, EBS data shows

  • There is scope for much bigger gain above the 151 psychological level

  • Sustained trading well above a broken 149.17 Fibo bullish nL2N3F739C

  • 149.17 Fibo is a 76.4% retrace of the (Nov-Dec) 151.92-140.27 (EBS) drop

  • USD/JPY and EUR/JPY pairs currently have a strong positive correlation

Source:
Refinitiv IFR Research/Market Commentary

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