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Jun 16 - 04:55 AM

USD/JPY's Relapse Finds Solid Support Ahead Of Key Fibo

By Martin Miller  —  Jun 16 - 02:35 AM
  • Fourteen-day momentum is positive, reinforcing the overall bullish market

  • As does the positive alignment of the tenkan and kijun lines

  • Wednesday's relapse found support ahead of the key 133.42 Fibo level

  • 133.42 Fibo is a 23.6% retrace of 126.37-135.60 (May to June) rise

  • We are long at 134.15 for a bullish resumption in coming sessions

  • EUR/JPY sees a 140.00-140.6 Thursday range so far, according to EBS data

  • USD/JPY Trader TGM2336 Previous USD/JPY update nL1N2Y20EK

Daily Chart: Click here

Daily Momentum Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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