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Mar 29 - 05:55 PM

USD/JPY - Pinned Against 109.85 Breakout Point, 112 Eyed Above 110

By Randolph Donney  —  Mar 29 - 03:43 PM
  • Prices are right by this year and last June's 109.85 EBS highs

  • A 110 breakout would target 2020's 112.23 peak

  • 161.8% Fibos off of this year's base, last week's range are at 112.10/17

  • Friday's low & the tenkan at 109.13 are first supports if a dip buy first

  • A 110 breakout and circa 112 peak would bring very O/B daily, weekly RSIs

  • The late March high at 111.715 is an interim hurdle, but a one-off spike

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Source:
Refinitiv IFR Research/Market Commentary

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