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Nov 14 - 03:48 AM
USD/JPY - Close Under Key Fibo Increases Odds Of A Deeper Drop
First appeared on eFXplus on Nov 14 - 02:15 AM
  • Wed's daily close below 108.88 Fibo, 38.2% of 107.89-109.49 rise, bearish

  • Looking to get short at 109.10 on recovery attempts. Previous nL2N27T06G

  • A "bull trap" has been setup due to a upside failure

  • Last Thursday and Friday USD/JPY broke, but failed above the 109.37 Fibo,

  • 109.37 Fibo is 61.8% of the 112.40 to 104.46 (April to August) drop

  • EUR/JPY sees a 119.52-119.81 range, according to prices on the EBS

Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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