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Jan 03 - 04:55 PM

USD/JPY's Key Support Breach Fleeting So Far, 131.40/2.00 Key Above

By Randolph Donney  —  Jan 03 - 02:55 PM

  • 7-mo low of 129.51 Tues after breaking Jan, Dec and Aug lows @130.60/58/40

  • But daily and weekly tech supports avert a close below those key supports

  • Doji candle shows risk of a false break and room for a corrective rise

  • USD/JPY's 131.40 high held the 38.2% of drop fm Dec. 28's 134.50 swing high

  • The daily tenkan and 50% Fibo are at 132.00 if 131.40 is cleared

  • The 21-DMA and kijun, now at 134.41/70, are major hurdles

  • A sub-129.50 close would eye 50% of 2020-22 rise/May's low at 126.56/37

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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