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Nov 06 - 04:55 AM

USD/JPY - Sees Biggest Drop Since August, Overcomes A Major Fibo

By Martin Miller  —  Nov 06 - 02:45 AM
  • Dollar in bad shape as U.S. election count continues nL1N2HR0SL

  • USD/JPY's 97-point EBS Thursday drop was the biggest since August 28

  • That large drop managed to overcome key technical support

  • It broke and saw a daily close under the major 103.67 Fibo: bearish

  • 103.67 Fibo is a 76.4% retrace of the 101.18 to 111.71 March (EBS) rise

  • Near-term recovery moves are likely to be short-lived

  • Trader TGM2336. EUR/USD bullish after a close above cloud nL1N2HS0E7

Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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