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Feb 12 - 04:55 PM

USD/JPY - Week's Selloff Stops Shy Of Undoing Pandemic Downtrend's Reversal

By Randolph Donney  —  Feb 12 - 02:45 PM
  • Michigan sentiment yanked USD/JPY off early 105.185 EBS high nL1N2KI1C8

  • That high is a 61.8% Fibo of this week's slide and by Tues's 105.26 high

  • Prices near the 10-DMA at 105 heading into the U.S. holiday weekend

  • Close above would reinforce this week's 104.41 low being a correction base

  • Might see more consolidation ahead of Wednesday's US retail sales

  • Twin Fibos, daily kijun and Thur's low at 105.55 are key on a closing basis

    For more click on FXBUZ

Chart Click here

Source:
Refinitiv IFR Research/Market Commentary

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