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Nov 06 - 04:55 PM

USD/JPY - Uptrend Perseveres, But Looks Unstable Near 2022-23 Double-Top

By Randolph Donney  —  Nov 06 - 02:40 PM
  • USD/JPY slide last week ended with 1st sub-daily kijun close since July

  • But prices rebounded before reaching last week's 148.81 low on EBS

  • Bigger risk is that 2023/22 highs at 151.74/94 mark a double-top

  • Need a weekly close below weekly tenkan at 148.82 to confirm a reversal

  • Nov. 2 high by 151 and upper 30-d Bolli is key resistance

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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