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Sep 24 - 05:55 AM

USD/JPY - Has Closed Above The Daily Cloud, Giving Bulls A Boost

By Martin Miller  —  Sep 24 - 03:35 AM
  • Thurs saw a close above the daily cloud, that spans the 109.86-110.19 region

  • On Friday the daily cloud has propped the market so far

  • That increases the odds for further gains towards 110.97 Fibo eventually

  • 110.97 Fibo is a 76.4% retrace of the 111.66 to 108.73 drop

  • A daily close back within the cloud will warn of another bull trap

  • EUR/JPY has seen a 129.45-129.75 range so far. USD/JPY Trader TGM2336

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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