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Jun 27 - 07:24 AM
USD/JPY - Bulls Losing Traction But G20 Clouds Direction
First appeared on eFXplus on Jun 27 - 05:00 AM
  • Tues hammer (bullish) signal drew strong confirmation Wed
  • However, a long upper candle wick early Thurs taking heat out of reversal
  • Price capped by the 21DMA at 108.17 and now pivoting the 107.85 10DMA line
  • Negative 14-day momentum and flattening RSI also hint at demand fade
  • We have an offer by 108.60 but a bear close could see a strategy change
  • Key Fibos topside at 108.93 and 109.53, 38.2% and 50% 112.40-106.78
  • Still watching price holding close to the monthly cloud base at 108.36

USD/JPY Trader:

USD/JPY Daily Candle Chart: Click here

Refinitiv IFR Research/Market Commentary


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