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Nov 11 - 04:55 AM

USD/JPY's Biggest Drop Since 1998, Closed Under Key 50% Fibo

By Martin Miller  —  Nov 11 - 02:40 AM
  • USD/JPY registered the biggest daily fall since October 1998 on Thursday

  • It closed down 553 pips to finish below the 141.17 Fibo

  • 141.17 Fibo is a 50% retrace of the 130.40 to 151.94 (Aug to Oct) EBS rise

  • Daily cloud now spans 138.15-143.69 region, the base will come under threat

  • Another key downside level to watch is 138.63 Fibo, a 61.8% (130.40-151.94)

  • Looking to get short at 143.50. USD/JPY Trader TGM2336. Prev nL1N3260KD

  • EUR/JPY range has been 144.03-144.98, on Friday, according to EBS prices

Source:
Refinitiv IFR Research/Market Commentary

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