Current level at 10:20 CET is 106.32, trading well below the daily pivot point of 107.54 and also below the hourly Ichimoku cloud base at 107.48. In view of the absurdly low valuations of the JPY against other majors, a catching-up process may well soon materialize and bring a downward acceleration to the long term target of 95.90, which corresponds to the Fibonacci 76.4 percent retracement of the 79.78 - 147.62 range. Pivot point related resistance levels for today are set at 107.92 and then 108.52, ahead of the daily Ichimoku cloud base at 108.58.
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