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Jun 18 - 05:55 AM

USD/JPY - Could Drop To The Cloud Base, Below Would Signal Danger

By Martin Miller  —  Jun 18 - 03:35 AM
  • USD/JPY found solid support last week as the daily cloud limited losses

  • The cloud now spans the 106.45-107.20 region

  • USD/JPY subsequently failed to make headway above the 107.35 Fibo

  • That failure above 107.35 increases the risk of a setback to the cloud base

  • 107.35 Fibo is a 23.6% retrace of the 109.85 to 106.58 drop

  • USD/JPY Trader TGM2336. Previous update nL1N2DU08N

  • EUR/JPY has seen a 119.83-120.40 range, according to prices on the EBS

Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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