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May 06 - 03:55 AM

USD/JPY - Chart Shows A Market That Looks Set To Soar

By Martin Miller  —  May 06 - 02:30 AM
  • USD/JPY this week found solid support just ahead of the 128.60 Fibo

  • 128.60 Fibo is a 61.8% retrace of the 126.97-131.25 (EBS) rise

  • There is a good chance that bulls can force a break above 2022 131.25 peak

  • Tenkan and kijun lines are positive aligned, reinforcing the bullish market

  • We are long at 129.35, target is at 131.25, while trailing stop is at 130.05

  • EUR/JPY sees a 137.24-61 Friday range so far, according to EBS data

  • USD/JPY Trader TGM2336 Previous update nL2N2WX0CG

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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