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Aug 07 - 03:55 AM

USD/JPY - Tenkan And Kijun Lines Are Negative: Bearish

By Martin Miller  —  Aug 07 - 02:00 AM
  • Tenkan and kijun lines are negative aligned, reinforcing the bearish bias

  • USD/JPY set for a bearish spiral through the 105.07 Fibo

  • 105.07 Fibo is a 61.8% retrace of 104.20 to 106.47 (Fri to Mon) rise

  • A break, daily close below 105.07 Fibo would weaken market structure further

  • USD/JPY Trader TGM2336. Prev nL1N2F808E. USD/JPY shorts nL1N2F409E

  • A EUR/USD close above a key Fibo would be a big boost nL1N2F907Q

Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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