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Thomson Reuters
Jan 03 - 07:24 AM
USD/JPY - Eyes A Key Fibo After Massive Downside Rejection
First appeared on eFXplus on Jan 03 - 05:10 AM
  • Massive decline in Asia hitting a 104.10 low, according to prices on the EBS
  • There has subsequently been a very strong recovery
  • That is a major sign that the downside in being rejected
  • We remain bearish on USD/JPY, however, while the 109.16 Fibo remains intact
  • 109.16 Fibo is a 50% of the 114.21 to 104.10 (November to January) fall

USD/JPY Trader:

Daily Fibo Chart: Click here

Source:
Thomson Reuters IFR Markets

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