By Randolph Donney — Aug 01 - 02:40 PM
USD/JPY lost about a percent after holding key supports nL1N2ZD110
Mon's 131.60 lows neared prior key high, low & 61.8% Fibo @131.34-49
Also have the rising daily cloud base at 131.49 on Tuesday on EBS
Daily RSIs have swung from O/B to O/S, but no bottom signal made yet
With JOLTS Tues, ISM services Wed & NFP Fri, dntrend pause is plausible
A confirmed break below 131.34 could unleash drop to 126-127 supports
In between are the 100-DMA and June 2 low at 130.12/129.51
Nearby rsst is at 132.50/82/3.00, then 50-DMA & Fri's high at 134.36/67
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary