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Thomson Reuters
Apr 26 - 06:12 AM
USD/JPY - REFILE-BUZZ-USD/JPY's "bull Trap" Weighs, But Huge Support Point Intact
First appeared on eFXplus on Apr 26 - 03:00 AM

Adjusted chart

  • Spot saw a daily close above 112.08 major Fibo, but then closed back below
  • That "bull trap" above the 112.08 Fibo weighs heavily on USD/JPY
  • 112.08 Fibo is a 76.4% of the 114.55 to 104.10 (2018 to 2019) EBS drop
  • So far USD/JPY bulls have found support at the 30-DMA now at 111.37
  • 111.37 is also 61.8% of the 109.70-112.40 rise. Long at 111.65 for 112.75
  • EUR/JPY finds support at 124.10. Previous nL1N22704E

USD/JPY Trader:

Daily Fibo Chart: Click here

Source:
Thomson Reuters IFR Markets

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