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Aug 12 - 04:55 AM

USD/JPY - Sees Three Closes In A Row Above A Broken Fibo: Bullish

By Martin Miller  —  Aug 12 - 02:45 AM
  • USD/JPY has closed above the 146.47 Fibo for three trading sessions in a row

  • 146.47 Fibo, a 23.6% retrace of the 161.96-141.68 (July to August) EBS drop

  • Scope for gains to 149.43 Fibo, 38.2% of same 161.96 to 141.68 fall

  • 14-day momentum remains negative, however, that highlights the downside risk

  • USD/JPY Trader TGM2336. Previous update nL1N3JU0EK

Source:
Refinitiv IFR Research/Market Commentary

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