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Aug 02 - 04:55 AM

USD/JPY's Downside Is Being Protected By Daily Cloud Support

By Martin Miller  —  Aug 02 - 02:46 AM
  • USD/JPY upper shadow on last Wednesday's candlestick line weighs

  • Downside is being limited by the daily cloud that now spans 109.30-110.13

  • We are long at 110.15 in anticipation for a gains towards 110.67 Fibo

  • 110.67 Fibo is a 61.8% retrace of the 111.66 to 109.07 July drop

  • Meanwhile our stop is at 109.25, below the daily cloud base

  • EUR/JPY sees 130.11-25 EBS range. USD/JPY Trader TGM2336nL1N2P60BK

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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