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Feb 20 - 03:55 AM

USD/JPY - FX Traders Need To Watch A Key USD/JPY Fibo Below Very Closely

By Martin Miller  —  Feb 20 - 02:40 AM
  • FX traders should watch the 133.26 Fibo level very closely

  • 133.26 Fibo is a 23.6% retrace of the 127.22-135.12 (Jan-Feb) EBS rise

  • A break and daily close below 133.26 Fibo needed to weaken spot further

  • Spot stuck within thick daily cloud, that spans wide 131.85-137.81 region

  • The long upper shadow on Friday's candle line warn of an upside rejection

  • USD/JPY Trader TGM2336. EUR/JPY range has been 143.26-61, Monday, so far

Source:
Refinitiv IFR Research/Market Commentary

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