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Mar 30 - 03:55 AM

USD/JPY's Outlook Mixed As Slump Remains Above Long-Term Fibo

By Martin Miller  —  Mar 30 - 02:05 AM
  • The direction of USD/JPY is in the balance after the recent drop

  • Spot's dive from the recent 125.10 multi-yr high continued to 121.32 in Asia

  • Knocking out our 122.50 long and putting a 2015 125.86 peak test in doubt

  • However trading continues above 119.52 long-term Fibo, which is positive

  • 119.52 is a 76.4% retrace of the 125.86 to 99.00 (2015 to 2016) EBS drop

  • EUR/JPY sees a 134.90-136.65 Wednesday range so far, according to EBS data

  • USD/JPY Trader TGM2336 Previous update nL2N2VW0CL

Weekly Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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