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Mar 18 - 05:55 AM

USD/JPY - A USD/JPY Break Above A Major Fibo Would Be A Bullish Sign

By Martin Miller  —  Mar 18 - 03:36 AM
  • USD/JPY bullish after multiple daily closes above the 108.23 Fibo

  • 108.23 Fibo a 61.8% retrace of 111.71 to 102.60 (Mar 2020 to Jan 2021) fall

  • Scope grows for bigger gains through the 109.56 Fibo, 76.4% of the same drop

  • Fourteen-day momentum remains positive, reinforcing the bullish bias

  • USD/JPY Trader TGM2336. Previous update nL1N2LF0F1

  • EUR/JPY has seen a 130.06-130.66 range on Thursday, according to EBS prices

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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