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Dec 24 - 08:36 PM
USD/JPY - Data Keep Key Fibo, 10-DMA Magnetic; Double Top Risk Exists
First appeared on eFXplus on Dec 24 - 11:15 AM
  • Dec. Philly Fed services sees downside miss nAQN01QIWN, US$ falls slightly

  • UST yields fall from day's high after US Treasury 5-yr auction nAQN01QJTZ

  • US$ drop intensifies & is sold against the majors, USD/JPY nears 109.30

  • Pair turns down on the day, hugs the 61.8 Fib of 112.40-104.46 & the 10-DMA

  • Daily RSI heads lower, suggests downside momentum is growing

  • Two recent rallies above 109.70 fail, sharp rejections follow the failures

  • Double top risk grows, break below 108.40/45 zone confirms the double top

  • D-T pattern completion suggest USD/JPY could trade down near 107.10







chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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