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Apr 07 - 04:55 AM

USD/JPY - Chart Bulls Have The Upper Hand Despite The Big Setback

By Martin Miller  —  Apr 07 - 02:45 AM
  • Scope is for a recovery towards the 111.00 psychological level

  • Fourteen-day momentum remains positive, reinforcing the upside bias

  • Spot has remained above the broken 109.56 Fibo, a very bullish sign

  • 109.56 Fibo is 76.4% of the 111.71 to 102.60 (Mar 2020 to Jan 2021) drop

  • USD/JPY Trader TGM2336. Previous update nL1N2LZ0GE

  • Speculators could be holding USD/JPY for the long haul nL1N2LY1DD

  • EUR/JPY has seen a 130.17-130.44 range, Wednesday according to EBS prices

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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