By Randolph Donney — May 12 - 03:20 PM
Second time in 2 wks prices fell below but couldn't close below key prop
The 50% Fibo of the March-May rise at 133.71 brought buyers on Thur
Failure to close below it, triggering a big rally on Fri
Friday's high breached the daily tenkan/50% of 137.78-3.50 slide at 135.64
A close above there would open the way to the 61.8% at 136.145 on EBS
Daily tenkan, kijun and cloud remain bullishly aligned
Kijun, now at 134.65, was also breached in May, but not closed below
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary