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Dec 28 - 09:55 PM

USD/JPY - Softer Early, As The Uptrend Falters, Signals Weigh

By Andrew M Spencer  —  Dec 28 - 06:40 PM

  • -0.1% after closing -0.05%, with risk crosses a touch weaker AUD/JPY -0.2%

  • No significant Japanese data today or scheduled BoJ speeches - likely quiet

  • Charts; despite closing a touch softer, a sixth higher daily high and low

  • Rise leaves positive daily signals as 5, 10 & 21 day moving averages climb

  • Current climb targets a test of the 115.52 November and 2021 high

  • Rising daily cloud supported in December, but cloud top falls in January

  • Falling cloud has the potential to cap USD/JPY - 115.52 likely resilient

  • NY 114.71-114.89 range is initial support and resistance

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jpy dec 29 Click here

Source:
Refinitiv IFR Research/Market Commentary

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