Home USD/JPY Technical Analysis: Bears eye 38.2% and 50% targets, but may need a discount to at least 110.80 first

USD/JPY Technical Analysis: Bears eye 38.2% and 50% targets, but may need a discount to at least 110.80 first

Updated: 6 May. 2019 | 03:54

USD/JPY bears are in control with some way to go yet in the Stochastics riding in oversold territory.
The target lines are based on Williams Fractals as price tests the cloud support below the 23.6% Fibo.
A break of the 38.2% Fibo opens the 50% target with the confluence of the 31st Jan lows at 108.49.
However, a reversion back to 110.80 and cloud resistance could be first port of call.

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