Explore eFXplus Derived Data That Drive Results
A Data Partner of:
Refinitiv
Feb 24 - 07:55 AM

USD/JPY - FX Traders Buying USD/JPY Likely To Run Into Solid Supply

By Martin Miller  —  Feb 24 - 05:52 AM
  • FX traders buying USD/JPY will likely encounter solid supply circa 106.00

  • USD/JPY has seen a 105.19-105.82 range so far Wed, according to EBS prices

  • Japanese importers and exporters buy on falls, sell on gains respectively

  • Fed's Powell said little to alter dollar's bearish path nL1N2KT34X

  • USD/JPY close under 104.84 Fibo support needed to see collapse nL1N2KT31D

  • 104.84 Fibo is 38.2% retrace of the 102.60 to 106.22 (Jan to Feb) rise

  • USD/JPY, EUR/JPY relationship broken, 60/30-day log correlations under +0.50

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

Subscription

  • eFXplus
  • End-user license agreement (EULA)

About

  • About
  • Contact Us

Legal

  • Terms of Service
  • Privacy Policy
  • Disclaimer
© 2021 eFXdata · All Rights Reserved
!