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Feb 05 - 04:55 PM

USD/JPY's Sharp Rebound From Cloud Test Takes A Pause For The Cause

By Randolph Donney  —  Feb 05 - 02:35 PM
  • Big 2.1% USD/JPY rebound from last week's probe of cloud top support

  • Monday's 148.90 high barely past Jan's 148.80 peak

  • Both below 76.4% of 151.92/140.27 drop at 149.17

  • That's by Nov. 13 and 17 pre-breakdown lows at 149.18-20

  • Will need a decent breakout to get RSIs past Jan's O/B highs

  • All this in shadow of 150 big fig and 2022/23's 151.94/92 peaks

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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