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Feb 20 - 02:36 AM

USD/JPY's Biggest Gain Since Aug, Close Above Huge Fibo, Bullish

By Martin Miller  —  Feb 20 - 01:45 AM
  • Tenkan and kijun lines remain positive aligned = bullish structure

  • Overall bullish bias for the 2019 112.40 peak. Our bid raised to 110.90

  • Wednesday saw biggest white candle (close above open) since August 13 2019

  • Spot broke and closed well above the major 110.53 Fibonacci level

  • 110.53 is 76.4% of the 112.40 to 104.46 (April to August) drop

  • USD/JPY has seen a 111.12-111.49​ range, according to prices on the EBS

  • EUR/JPY sees 120.10​​-120.40. Prev nL1N2AJ03Z. USD/JPY Trader TGM2336

Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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