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Nov 24 - 04:55 AM

USD/JPY's Should See A Bigger Drop After The Cloud Rejection

By Martin Miller  —  Nov 24 - 02:50 AM
  • Market rejected the daily cloud, that now spans wide 141.02-146.54 region

  • Failed above the 141.03 Fibo, increasing the odds of a deeper setback

  • 141.03 Fibo is a 23.6% retrace of the 151.94 to 137.67 (EBS) drop

  • Fourteen-day momentum is negative, reinforcing the bearish structure

  • Scope grows for bigger losses under November's 137.67 (EBS) low

  • Looking to get short at 141.00. USD/JPY Trader TGM2336. Prev nL1N32J0GF

  • EUR/JPY range has been 144.63-145.20, on Thursday, according to EBS prices

Source:
Refinitiv IFR Research/Market Commentary

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