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Jul 08 - 04:55 PM

USD/JPY - Dogged By Dollar Drop, Dives Out Of Cloud, 106.80/70 Key Props

By Randolph Donney  —  Jul 08 - 02:40 PM
  • USD/JPY beset by broad USD weakness and its drop out of the daily cloud

  • For 4th straight session, prices probing falling 21-DMA prop, 107.23 last

  • Looks set to close well below tenkan at 107.48, affirming cloud break sell

  • A clear break or close below the 21-DMA eyes 106.80 June 26 EBS swing low

  • Weekly Kijun's at 106.70; a close below it eyes May-June lows by 106

  • Bears are in charge while below the 100-DMA, 107.79 last

  • For more click on FXBUZ

Chart Click here

Source:
Refinitiv IFR Research/Market Commentary

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