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Mar 11 - 07:55 AM

USD/JPY - Chart Shows The Risk Grows For A Slump Under The Cloud

By Martin Miller  —  Mar 11 - 05:35 AM
  • USD/JPY suffered a big setback to break and close under kijun line last week

  • The daily kijun line, the midpoint of the last 26 sessions, now at 148.68

  • It is on course to register a daily close under 146.83 Fibo level

  • 146.83 Fibo is a 38.2% retrace of the 140.27 to 150.88 (Dec to Feb) EBS rise

  • 14-day momentum remains negative, reinforcing the downside risk

  • Scope for a bigger drop under the cloud that spans the 144.99-146.13 region

  • EUR/JPY has seen a 160.40-89 range, on Monday, EBS data shows

  • USD/JPY Trader TGM2336. Offer at 147.60. Previous update nL2N3FM0QF

Source:
Refinitiv IFR Research/Market Commentary

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