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Dec 04 - 03:55 AM

USD/JPY - Chart Points To A Bigger Collapse To The November Low

By Martin Miller  —  Dec 04 - 02:15 AM
  • USD/JPY left a upper shadow on Wednesday's candlestick line

  • It failed to register a daily close above the kijun line at 104.43

  • Saw a subsequent big drop on Thursday, weakening the outlook

  • Scope grows for a deeper drop towards Nov's 103.18 low in coming sessions

  • A break under Nov 18 103.66 low needed to weaken market structure further

  • Trader TGM2336. EUR/JPY range has been 126.06-126.34 EBS range

Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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