USD/JPY Outlook: Bulls Further Tighten Grip after Last Week’s 2%Advance, ahead of Fed

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USD/JPY Outlook: Bulls Further Tighten Grip after Last Week's 2%Advance, ahead of Fed

The USDJPY extends its steep ascend on Monday, following nearly 1% rise on Friday, the biggest daily advance since November 2020. Fresh acceleration (0.5% up until early US session on Monday) cracked 118.00 barrier, opening way for test of Dec 2016 peak (118.66) and unmasking pivotal Fibo barrier at 119.50 (76.4% retracement of 125.84/98.99 fall). […]

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Source: USD/JPY Outlook: Bulls Further Tighten Grip after Last Week's 2%Advance, ahead of Fed