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Mar 01 - 03:55 AM

USD/JPY - Bulls Really Need To Force A Close Above A Broken Fibo

By Martin Miller  —  Mar 01 - 02:15 AM
  • USD/JPY rose on Tuesday to break above the key 136.66 Fibo

  • 136.66 Fibo is a 38.2% retrace of the 151.94 to 127.22 (Oct to Jan) drop

  • However spot failed to register a daily close above 136.66 Fibo

  • Though 14-day momentum remains positive, reinforcing the bull market

  • Those that are bullish really need to force a daily close above 136.66 Fibo

  • USD/JPY Trader TGM2336. Previous update nL1N3580IC

  • EUR/JPY range has been 144.07-144.59, on Wednesday, so far on the EBS

Source:
Refinitiv IFR Research/Market Commentary

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