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Thomson Reuters
Oct 10 - 06:12 AM
USD/JPY - Traders Building Ahead Of Key Fibo, Eye Tuesday's High
First appeared on eFXplus on Oct 10 - 04:00 AM
  • USD/JPY traders seem to be building a base ahead of the key 112.73 Fibo
  • 112.73, a 38.2% retrace of the 109.78 to 114.55 (August to October) rise
  • Today's low being registered at the 21-DMA which is now at 112.93
  • Tenkan and kijun lines are positively aligned, reinforcing the upside bias
  • Bulls need a break above Tuesday's high to be confident of a recovery
  • Weekly close either side of 200-WMA crucial for m-term bias

USD/JPY Trader:

Daily Fibo Chart: Click here

Source:
Thomson Reuters IFR Markets

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