By Martin Miller — May 09 - 02:25 AM
USD/JPY this week found solid support just ahead of the 128.60 Fibo
128.60 Fibo is a 61.8% retrace of the 126.97-131.25 (EBS) rise
The expectation is for a spot to soar above the 2022 131.25 peak
That would see the market hit new highs not seen since 2002
Tenkan and kijun lines are positive aligned, reinforcing the bullish market
We are long at 129.35, obj raised to 131.95, trailing stop is at 130.45
EUR/JPY sees a 137.51-82 Monday range so far, according to EBS data
USD/JPY Trader TGM2336 Previous update nL2N2WY0C5
Daily Chart Click here
Source:
Refinitiv IFR Research/Market Commentary