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Jul 27 - 05:00 AM
USD/JPY - Long Candle Tail Raises Odds Of A Downside Rejection
First appeared on eFXplus on Jul 27 - 03:00 AM
  • USD/JPY left a long tail on Thursday's candlestick line
  • Long tail highlights a market that is trying to reject the downside
  • Spot managed to break below 110.65 Fibo Thursday, but failed to close below
  • 110.65 Fibo, a 61.8% retrace of the 108.12 to 113.18 (May to July) EBS rise
  • We remain short at the 110.99 level, but the outlook is mixed
  • USD/JPY bears grappled with key Fibo on Thursday nL1N1UM060

USD/JPY Trader:

Daily Fibo Chart: Click here

Thomson Reuters IFR Markets


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