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Sep 16 - 02:55 AM

USD/JPY - Scope For Bigger Drop After Daily Cloud Rejection

By Martin Miller  —  Sep 16 - 02:00 AM
  • USD/JPY has closed under the thick daily cloud that now spans 105.78-107.02

  • Tue's daily close under the cloud has increased the risk of a bigger drop

  • Scope grows for July's 104.20 low and 103.67 Fibonacci level

  • 103.67 Fibo is a 76.4% retrace of the 101.18 to 111.71 March (EBS) rise

  • We are looking to get short at 105.95 on recovery attempts

  • EUR/JPY range so far has been 124.54-124.93 according to EBS prices

  • USD/JPY Trader TGM2336. Previous update nL1N2GC05T

Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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