By Peter Stoneham — Aug 07 - 02:55 AM
USD/JPY's five-day, 138.05-143.89 surge on EBS, was set to retrace
Friday's slide broke the 38.2% of the rise at 141.66
A second big black candle leaves prices well below the daily cloud top
However, a Monday rebound clouds direction and damages bearish potential
Daily cloud top and Frid's high the hurdles, 142.46-142.90 respectively
We still lean bearish but will stand aside for now
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary