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Oct 12 - 02:55 AM

USD/JPY - Sinks To Focus On Fibo After Recent Cloud Rejection

By Martin Miller  —  Oct 12 - 01:55 AM
  • Recent rejection of the daily cloud, that has narrowed to 106.07-18, bearish

  • USD/JPY scope grows for an eventual slump to the major 103.67 Fibo

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

  • In the near-term the expectation is for a test of the 105.30 Fibo

  • 105.30 Fibo is a 38.2% retrace of the 104.00 to 106.11 Sept to Oct gain

  • EUR/JPY range on Monday has been 124.63-124.86, according to EBS prices

  • USD/JPY Trader TGM2336. Previous update nL1N2GY05Q

Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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