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Aug 16 - 03:48 AM
USD/JPY - Under A Cloud After Fibo Failures And Big Upper Shadow
First appeared on eFXplus on Aug 16 - 02:10 AM
  • USD/JPY's failures above key 106.68 Fibo, Thu's large upper shadow, weigh
  • 106.68 is a 38.2% retrace of the 109.32 to 105.05 down-leg
  • Upside rejected, scope for an eventual dive below the 105.05 August low
  • A daily close below would unmask the 2019 104.10 low
  • We remain short at 106.50 in anticipation for our 105.10 target
  • EUR/JPY range has been 117.72-117.93. Previous USD/JPY

USD/JPY Trader:

Daily Fibo Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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