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Feb 05 - 05:55 AM

USD/JPY - Has Slumped To Break Below The Thick Daily Cloud

By Martin Miller  —  Feb 05 - 03:47 AM

• USD/JPY has slumped and broken under the thick Ichimoku cloud

• The daily cloud currently spans the 153.37-155.20 region

• If there is a daily close under the cloud, that would unmask the 152.56 Fibo

• 152.56 Fibo is a 61.8% retrace of the 148.65 to 158.88 (Dec to Jan) EBS rise

• Fourteen-day momentum remains negative, which highlights the downside risk

• USD/JPY Trader

Daily Chart:


(Martin Miller is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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