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Jun 17 - 05:55 AM

USD/JPY - Bulls Need A Series Of Daily Closes Above A Key Fibo

By Martin Miller  —  Jun 17 - 03:45 AM
  • USD/JPY found solid support last week as the cloud halted recent collapse

  • Daily cloud now spans the 106.45-107.21 region

  • Spot needs a series of daily closes above 107.35 Fibo to brighten outlook

  • 107.35 Fibo is a 23.6% retrace of the 109.85 to 106.58 drop

  • That would put the 108.22 Fibo, 50% of 109.85 to 106.58 drop, in focus

  • USD/JPY Trader TGM2336. Previous update nL1N2DT0CX

  • EUR/JPY has seen a 120.68-121.19 range, according to prices on the EBS

Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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