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Nov 17 - 04:55 PM

USD/JPY - Bears Get Another Bite, Sub-104.43 Close Serves Up More

By Randolph Donney  —  Nov 17 - 03:20 PM
  • USD/JPY retraced more than 61.8% of its recent 103.18-5.68 rebound

  • That Fibo at 104.135 was cracked by today's 104.075 EBS low

  • Bearish close below the 50% Fibo and tenkan at 104.43 is now at hand

  • Tenkan, kijun and cloud are bearishly aligned, seen as fade points

  • Last week's cloud top breaches failed, down TL from March untouched

  • Sub-104.43 close targets 76.4% Fibo and Nov. 6 high at 103.77/76

  • Prices surged to 105.65 after clearing 103.76 on Nov. 9

  • Makes that breakout point pivotal support now

For more click on FXBUZ


Chart Click here

Source:
Refinitiv IFR Research/Market Commentary

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