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Thomson Reuters
May 24 - 08:36 AM
USD/JPY - Sixth Attempt To Crack Key Support, Blow-Out Risk
First appeared on eFXplus on May 24 - 06:05 AM
  • Hanging heavy within a tight range as dust settles on a sharp Thurs drop
  • Bear bias intact: run back to May 14/15 109.15 dble day low on the cards
  • Weekly action shows price again attacking the base of its cloud
  • Cloud base was breached last week but mkt failed to close below
  • The market has attempted six times to close under since Feb: blow-out risk
  • The cloud is thick and has a base at 109.55 this week

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