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Nov 19 - 04:55 AM

USD/JPY - Set To For Bigger Drop, But Close Below Key Fibo Needed

By Martin Miller  —  Nov 19 - 02:35 AM
  • Spiral lower to continue, but daily close under broken 103.77 Fibo needed

  • 103.77 Fibo is a 76.4% retrace of the 103.18 to 105.68 November (EBS) rise

  • Near-term recovery attempts will likely be capped by kijun line at 104.47

  • We will leave our offer at 104.90 in case there is a recovery overshoot

  • Trader TGM2336. EUR/JPY range has been 122.85-123.18 on the EBS

  • EUR/USD's chart outlook bullish as daily cloud support solid nL1N2I50EZ

Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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