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Nov 26 - 08:55 AM

USD/JPY - Chart On Course To Record Biggest Drop Since March 2020

By Martin Miller  —  Nov 26 - 06:40 AM
  • USD/JPY has broken under the kijun line at 114.13 and the 113.92 Fibo

  • 113.92 Fibo is a 23.6% of the 108.73 to 115.52 (August to November) rise

  • Huge setback, is on course to record biggest daily drop since March 2020

  • That will be the case if USD/JPY closes down 136+ pip, that is under 114.00

  • A daily close under the 113.92 Fibo would weaken the tech outlook further

  • That would lead to a bigger fall to the 112.93 Fibo, 38.2% of the same rise

  • USD/JPY Trader TGM2336. EUR/JPY EBS range, Friday, has been 128.07-129.02

Daily Chart Click here

Source:
Refinitiv IFR Research/Market Commentary

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