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Sep 21 - 05:55 AM

USD/JPY's Multiple Failures Above Cloud Resistance Negative

By Martin Miller  —  Sep 21 - 04:17 AM
  • Daily cloud resistance currently spans the 109.86-110.19 region

  • USD/JPY has seen a 109.31-109.70 range on Tuesday, according to EBS prices

  • The daily tenkan and kijun lines are negatively aligned = bearish

  • A break under the 109.11 September 15 low would weaken the market further

  • EUR/JPY's correlations with USD/JPY high, 30/60-day logs are +0.57/+0.64

  • Two currency pairs performs daily closes in the same direction a lot

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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