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Jan 13 - 03:55 AM

USD/JPY's Collapse Looks Set To Break Under A Huge Fibo

By Martin Miller  —  Jan 13 - 02:45 AM
  • USD/JPY slump continues this week, with the near-term focus on 126.56 Fibo

  • 126.56 Fibo is a 50% retrace of 101.18 to 151.94 (2020 to 2022) EBS rise

  • Fourteen-week momentum remains negative, reinforcing the bearish market

  • An eventual break under the 126.56 Fibo would likely see a much bigger drop

  • Offer at 129.90. USD/JPY Trader TGM2336. Previous update nL1N33W0F6

  • EUR/JPY range has been 139.34-140.40 on Friday

Source:
Refinitiv IFR Research/Market Commentary

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