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Dec 20 - 05:00 AM
USD/JPY - Has A Top In Place, Drop Below Tenkan And Kijun Likely
First appeared on eFXplus on Dec 20 - 02:45 AM
  • USD/JPY's (Dec 2 and Fri) near matching highs hint means a top is in place

  • Bigger gains to the 110.53 Fibo is on hold into 2020

  • 110.53 is 76.4% retrace of the 112.40 to 104.46 (April to August) EBS drop

  • Risk for a drop below tenkan and kijun lines at 109.09 and 109.01 likely

  • Thick cloud, which spans 107.91-108.76, props into 2020 however

  • EUR/JPY range has been 121.47-121.69. Previous USD/JPY update nL1N28T07B

Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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