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Apr 23 - 04:55 AM

USD/JPY - Chart Bearish, But Key Fibo Support Remains Intact

By Martin Miller  —  Apr 23 - 02:52 AM
  • USD/JPY's sustained trading under 108.99 Fibo support is a bearish sign

  • 108.99 Fibo is 23.6% of the 102.60 to 110.97 (January to March) rise

  • Could see a drop under 107.77 Fibo, 38.2% of the same 102.60-110.97 gain

  • Daily cloud, that spans the 106.16-107.95 region, might slow the decline

  • We are looking to get short ahead of tenkan line at 108.78

  • USD/JPY Trader TGM2336. Previous update nL1N2MF0K9

  • EUR/JPY has seen a 129.61-129.80 range on Friday according to EBS prices

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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