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Thomson Reuters
May 17 - 05:00 AM
USD/JPY - Bulls Gear Up For Surge Above Key Fibo
First appeared on eFXplus on May 17 - 02:40 AM
  • USD/JPY bulls look set to surge through the key 110.85 Fibo
  • 110.85 -- 61.8% retrace of the 114.73-104.56 (November to March) fall
  • Bullish as spot has registered two successive daily close above 200-DMA
  • 14-day momentum is increasingly positive, reinforcing overall bullish bias
  • We remain long at 109.15 for 110.80, trailing stop raised to 110.05
  • USD/JPY's 7th biggest 2018 one-day rise overcame 200-DMA

USD/JPY Trader:

Daily Fibo Chart: Click here

Source:
Thomson Reuters IFR Markets

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