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Thomson Reuters
Jul 26 - 03:48 PM
USD/JPY - Correction Of USD/JPY Uptrend Shows Signs Of Ended
First appeared on eFXplus on Jul 26 - 02:20 PM
  • USD/JPY showing signs 6-day correction of uptrend is ending
  • Held above 55-DMA (110.52), same MA that ended May & June slips
  • Tsy-JGB spreads rising further despite BOJ steepening talk
  • Bulls looking for close above Wed's high to end bearish streak
  • Hourlies show O/S bullish divergence base, 111.78/88/2.18 Fibs
  • July Tokyo CPI tonight, but US GDP Fri & BOJ Tues key
  • Further CNY slippage should be negative for JPY

Chart: Click here

Source:
Thomson Reuters IFR Markets

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