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Nov 30 - 04:55 AM

USD/JPY - Chart Shows A Market Poised To "Drop Like A Stone"

By Martin Miller  —  Nov 30 - 02:50 AM
  • Fourteen-day momentum is still negative, reinforcing the bearish bias

  • Expectation is for losses to the key 135.48 Fibo in coming sessions

  • 135.48 Fibo is a 76.4% retrace of the 130.40-151.94 (Aug-Oct) EBS rise

  • We look to get short at 138.80 in anticipation for the drop to 135.48

  • USD/JPY Trader TGM2336. Prev nL1N32P0G6

  • EUR/JPY range has been 143.19-143.65, on Wednesday, according to EBS prices

Source:
Refinitiv IFR Research/Market Commentary

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