By Christopher Romano — Mar 13 - 12:15 PM
US$ broadly lower as investors price in a lower terminal Fed rate EDU3
USD/JPY struck a 1-month low of 132.295 on EBS before bouncing slightly
50% Fib of 127.215-137.90, 55-DMA pierced before bounce took hold
Daily RSI falling & not oversold, implies downside momentum in place
Daily close below the Fibo & 55-DMA to reinforce shorts' confidence
Shorts then likely to target 131.10/30, 129.70/80 support zone
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Source:
Refinitiv IFR Research/Market Commentary