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Nov 22 - 04:55 AM

USD/JPY - Chart Shows The Bullish Cycle Is Far From Over

By Martin Miller  —  Nov 22 - 02:50 AM
  • The daily chart points to even bigger gains in coming sessions

  • Scope for bigger gains to retest Nov 15 156.76 (EBS) high

  • A break above the 156.76 high would unmask the July 23 157.09 high

  • Bullish alignment of the tenkan and kijun lines highlights the upside bias

  • A long-tail of Tuesday's candlestick line points a rejection of the downside

  • Only a break, daily close under Tuesday's 153.28 low would be negative

  • USD/JPY trader TGM2336. Previous update nL1N3MS09B

  • Understanding Ichimoku: implications for USD/JPY nL1N3MJ1G7

Source:
Refinitiv IFR Research/Market Commentary

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