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May 02 - 08:36 AM
USD/JPY - Shorts Vulnerable Ahead Of Key Fibo As FOMC Looms
First appeared on eFXplus on May 02 - 06:35 AM
  • More near-term USD/JPY shorts taken out since last Wed remain vulnerable
  • Session range has been 109.65-109.92, as spot hits highest level since Feb 5
  • Profit taking in Asia blamed for USD/JPY failing to reach 110.00
  • Talk also that Japanese exporters near 110.00 may impede upward progress
  • Tue's rise was the twelfth biggest one-day gain of 2018, however
  • Bulls have momentum, eyes 200-DMA, 61.8% Fibo at 110.23, 110.24 respectively

USD/JPY Trader:

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