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Thomson Reuters
May 08 - 06:12 AM
USD/JPY - Top Will Be Confirmed With A Close Below Key Fibo
First appeared on eFXplus on May 08 - 04:05 AM
  • Top could be forming in USD/JPY, but a daily close below 108.75 Fibo needed
  • 108.75 -- 23.6% retrace of the 104.56 to 110.05 (March to May) rise
  • If 108.75 is overcome then the rising 30-DMA now at 107.85 will be unmasked
  • USD/JPY bears should be cautious, however, as fourteen-day momentum positive
  • Immediate supply comes in at Monday's 109.40 peak

USD/JPY Trader:

Daily Fibo Chart: Click here

Source:
Thomson Reuters IFR Markets

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