Explore eFXplus Derived Data That Drive Results
A Data Partner of:
Refinitiv
Mar 17 - 05:55 AM

USD/JPY's 'Hammer' Is A Warning To Those That Are Bearish

By Martin Miller  —  Mar 17 - 04:05 AM
  • USD/JPY failed to register a close under the 132.56 Fibo

  • That despite breaking below 132.56 Fibo on Mon, Wed and Thurs: "bear trap"

  • 132.56 Fibo is a 50% retrace of the 127.22 to 137.90 (EBS) rise

  • Also the "hammer" on Thursday's candlestick line warns of a base

  • Hammer: small body near the high, tiny upper shadow and a long lower tail

  • However, 14-day momentum remains negative. We remain short at 133.95

  • USD/JPY Trader TGM2336. Previous update nL1N35O0IM

  • EUR/JPY range has been 141.54-142.06, on Friday, according to EBS data

Source:
Refinitiv IFR Research/Market Commentary

Subscription

  • eFXplus
  • End-user license agreement (EULA)

About

  • About
  • Contact Us

Legal

  • Terms of Service
  • Privacy Policy
  • Disclaimer
© 2023 eFXdata · All Rights Reserved
!