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Mar 08 - 04:55 PM

USD/JPY - Bulls Get New 2023 Highs, Await Close Above Breached 137.45-465 Hurdles

By Randolph Donney  —  Mar 08 - 03:10 PM

  • Prices breached the 200-DMA, key Dec. 20 day's high at 137.45-465 on EBS

  • But may not be able to close above them on Wednesday

  • Close above would point toward the 50% Fibo of the Oct-Jan drop at 139.58

  • The Dec. 15 swing high at 138.18 is an intervening historical hurdle

  • Daily RSIs didn't make new trend highs with prices today

  • But it's too soon to deem that a bearish divergence

  • The falling 100-DMA and rising 10-DMA at 136.27 offer support

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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