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Aug 18 - 04:55 AM

USD/JPY - Chart Hints At A Top Under One Condition

By Martin Miller  —  Aug 18 - 02:45 AM
  • Tech outlook bullish, especially with this week's break above 146.11 Fibo

  • 146.11 Fibo is a 76.4% retrace of the 151.94 to 127.22 (2022 to 2023) fall

  • Fourteen-week momentum remains positive, reinforcing the overall bull bias

  • However a failure to close this week above 146.11 Fibo would warn of a top

  • EUR/JPY has seen a 158.03-55 range, on Friday so far, EBS data shows

  • USD/JPY Trader TGM2336. Previous update nL1N39Y0DU

Source:
Refinitiv IFR Research/Market Commentary

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