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Apr 20 - 05:55 PM

USD/JPY - Uptrend Corrects, With More Support In Store Friday

By Randolph Donney  —  Apr 20 - 04:05 PM
  • USD/JPY uptrend corrected almost to Wed's low before bouncing

  • That bounce taking above the daily cloud top also closed above on Wed

  • A close above the 61.8% Fibo of March's slide at 134.75 is awaited

  • That after its was breached intraday on Wed

  • A 134.75+ close would target the 76.4% Fibo and March 9 low at 135.95 on EBS

  • The uptrend is also supported by the 50% Fibo and weekly tenkan at 133.77

  • That support will be buttressed by the rising 10-day MA on Friday

For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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