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Sep 28 - 04:55 AM

USD/JPY - Chart Points To A Slump

By Martin Miller  —  Sep 28 - 02:40 AM
  • USD/JPY has scope for an eventual bigger drop to the major 103.67 Fibo

  • 103.67 Fibo is a 76.4% retrace of the 101.18 to 111.71 March rise

  • Tenkan and kijun lines are increasingly negatively aligned = bearish sign

  • We are looking to get short on recovery attempts to 105.90

  • Our offer is ahead of the daily cloud base supply that is at 105.98

  • EUR/JPY range so far has been 122.38-74, according to EBS prices

  • USD/JPY Trader TGM2336. Previous update nL2N2GM059

Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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