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Jun 18 - 06:12 AM
USD/JPY's Downside Risk Grows As A Key Fibo Limits Upside
First appeared on eFXplus on Jun 18 - 03:50 AM
  • Bias remains on downside, the 10 and 30-DMAs remain negatively aligned
  • Growing risk for a fall to the 30-day lower bolli-band now at 107.81
  • The upside remains weighed down by the key 108.93 Fibonacci level
  • 108.93 Fibo is a 23.6% retrace of the 112.40 to 107.81 (April to June) fall
  • We are looking to get short at 108.75, ahead of the 108.89 key Fibo
  • EUR/JPY range has been 121.60-87 on Tues so far, according prices on the EBS

USD/JPY Trader:

Daily Fibo Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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