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Nov 12 - 04:55 AM

USD/JPY - "bear-Trap" Puts The 2021 Peak Back In Focus

By Martin Miller  —  Nov 12 - 02:39 AM
  • Scope is for eventual gains above the 2021 114.69 peak posted in Oct

  • USD/JPY left a bear-trap under the 113.28 Fibo, a bullish sign

  • 113.28 Fibo is a 23.6% retrace of the 108.73 to 114.69 (Aug to Oct) rise

  • Bear trap set when a market breaks below a level but quickly reverses

  • USD/JPY Trader TGM2336. EUR/JPY EBS range, Friday, has been 130.58-74

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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