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Thomson Reuters
Jun 10 - 06:12 AM
USD/JPY - Bears Thwarted By The Wrong Breakout
First appeared on eFXplus on Jun 10 - 04:35 AM
  • Frustration for bears as a potential bearish continuation weakens
  • A topside breakout from last week's consolidation and 107.81-108.56 range
  • 14-day momentum remains negative but RSI now climbing away from the 30 line
  • Early Monday gains just being stalled by the 10DMA at 108.68 (108.71 high)
  • Close abv avg could open up a run back to late May highs approaching 110.00
  • Bounce off 30WMA lower Bolli also significant albeit a modest lift so far

USD/JPY Trader:

USD/JPY Daily Candle Chart: Click here

Source:
Thomson Reuters IFR Markets

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