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Sep 17 - 04:55 AM

USD/JPY - Bears Need To Force Daily Close Under A Key Fibo

By Martin Miller  —  Sep 17 - 02:35 AM
  • USD/JPY broke, but failed to register a daily close under the 104.87 Fibo

  • 104.87 Fibo is 76.4% retrace of the 104.20 to 107.05 (July to August) rise

  • Bears need to force a daily close under the 104.87 Fibo

  • That would weaken the underlying market structure further

  • Looking to get short at 105.55, ahead of the falling tenkan line at 105.60

  • EUR/JPY range so far has been 123.33-124.06 according to EBS prices

  • USD/JPY Trader TGM2336. Previous update nL1N2GD062

Daily Ichimoku Chart Click here

Source:
Refinitiv IFR Research/Market Commentary

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