USD/JPY bears testing below 108 handle towards 107.27 61.8% Fibonacci target

  • USD/JPY remains immedaitely offered while below the 20-D SMA and the near term downtrend at 109.92 higher up.
  • Bears have managed to break below the 108.49 31st January low.
  • The price is now testing below the 108 handle with sights to 107.27 61.8% Fibonacci retracement then the 78.6% retracement at 105.87. 
  • On the flipside, a run towards 110.84 April 10 low opens the 200-day moving average on the 111 handle.

 

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