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Jun 05 - 03:55 AM

USD/JPY - The USD/JPY Long-Term Chart Points To Much Bigger Gains

By Martin Miller  —  Jun 05 - 02:25 AM
  • USD/JPY in April overcame the 152.60 Fibo, keeping the bias on the upside

  • 152.60 Fibo is a 38.2% retrace of the 277.65 to 75.31 (1982 to 2011) drop

  • Scope for bigger gains to the hit multi-year high at 160.24 posted in April

  • We are looking to capture near-term setbacks by getting long at 154.00

  • A weekly close back sub the broken 152.60 Fibo would signal a shift lower

  • EUR/JPY 168.50-169.03 EBS range on Wednesday. USD/JPY Trader TGM2336

Source:
Refinitiv IFR Research/Market Commentary

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