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Thomson Reuters
Mar 08 - 05:00 AM
USD/JPY - Drops Under 200-DMA, A Close Below Would Be Ominous
First appeared on eFXplus on Mar 08 - 02:55 AM
  • Bulls suffer as setback as spot collapsed back below 200-DMA, now at 111.40
  • A daily close below the 200-DMA will increase the downside risk
  • That would put the 30-DMA, now at 110.52, in jeopardy
  • Another important level which will come into play is the 110.24 Fibo
  • 110.24 Fibo, a 23.6% of the 104.10 to 112.13 2019 (EBS) rise
  • Our 111.40 long is under pressure, a close below 200-DMA needs to be averted

USD/JPY Trader:

Daily Bollinger Chart: Click here

Source:
Thomson Reuters IFR Markets

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