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Feb 01 - 05:55 AM

USD/JPY - Likely To Slump While It Remains Under A Key Level

By Martin Miller  —  Feb 01 - 03:40 AM
  • Scope for a drop to 126.56 Fibo, 50% of 101.18-151.94 (2020-2022) EBS rise

  • We are short at 129.90 for 126.80 target, our stop remains above 131.58 peak

  • 14-day and 14-week momentum are both negative, reinforcing the bear market

  • Kijun line at 131.00, midpoint of last 26 trading sessions, limits upside

  • USD/JPY Trader TGM2336. Previous update nL1N34G0KJ

  • EUR/JPY range has been 141.09-141.83, on Wednesday, so far

Source:
Refinitiv IFR Research/Market Commentary

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