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Apr 28 - 04:55 AM

USD/JPY's "bear Trap" Continues To Rip Through The Market

By Martin Miller  —  Apr 28 - 02:46 AM
  • The "bear trap" was set by the double failure on Fri, Mon under 107.77 Fibo

  • 107.77 Fibo is 38.2% of 102.60 to 110.97 (January to March) EBS rise

  • That "bear trap" keeps the focus on kijun line which is currently at 109.23

  • A break and close above the kijun line would accelerate gains even more

  • Tuesday's long white candle is also reinforcing the bullish market

  • USD/JPY Trader TGM2336. Previous update nL1N2MK0FJ

  • EUR/JPY has seen a 131.40-131.57 range on Wednesday according to EBS prices

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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