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Sep 19 - 04:55 PM

USD/JPY - Is Coiled For A 148 Breakout With 149.56/150 Targets

By Randolph Donney  —  Sep 19 - 03:40 PM
  • USD/JPY uptrend up close to the 148 hurdle it's been below for 11 days

  • Pullbacks have become minute suggesting a breakout is due

  • A breakout and 148+ close first faces 21- & 30-day BBs at 148.46-51

  • Broader 161.8% Fibo off July's base is at 149.56

  • The top of 2023's rising channel is by 150 big figure resistance

  • Good support is at 147 from recent daily lows

  • Uptrend intact unless 30-DMA and daily kijun at 146.36/20 are closed below

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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