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Aug 08 - 05:00 AM
USD/JPY - Bears Should Beware Of The Latest "hammer"
First appeared on eFXplus on Aug 08 - 03:25 AM
  • USD/JPY left a "hammer" on Wed's candle = risk downside is being rejected
  • Bears have not convincingly sustained Mon's break, close below 106.06 Fibo
  • 106.06 Fibo failure, 76.4% of 104.10 to 112.40 2019 rise = "bear trap" risk
  • USD/JPY bears will retain the upper hand while Tue's 107.11 high is intact
  • USD/JPY has seen a 106.00-106.32 range, according to prices on the EBS
  • EUR/JPY range has been 118.86-119.14. Previous USD/JPY update

USD/JPY Trader:

Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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