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Nov 16 - 04:55 PM

USD/JPY - Bears Favor Fading Rallies Above 105 And Below The Cloud

By Randolph Donney  —  Nov 16 - 03:20 PM
  • Today's 105.135 EBS high was faded ahead of Friday's 105.15 high

  • More offers likely ahead of the falling cloud base, 105.36 last

  • Bears look for sub-104.43 close: tenkan & 50% Fibo of 103.18-5.68

  • Would open up drop to 76.4% and Nov. 6 high at 103.77-76

  • Broad downtrend from March's peak is intact below that TL at 105.75

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Source:
Refinitiv IFR Research/Market Commentary

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