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Nov 12 - 03:55 AM

USD/JPY - Failed Above Daily Cloud Twice, A Very Bearish Sign

By Martin Miller  —  Nov 12 - 02:05 AM
  • USD/JPY, on Monday, saw the biggest one-day gain since March nL1N2HX0HI

  • Monday's surge failed to close above the daily cloud, despite a break

  • Another break of the cloud top, on Wed, again failed to see a close above

  • The daily cloud, that now spans the 105.40-53 region, still weighs

  • Until there is a close above cloud, risk for a bearish resumption is high

  • There is scope for a bearish resumption towards Friday's 103.18 low

  • Trader TGM2336. EUR/JPY range has been 123.70-124.18 on the EBS

Daily Ichimoku Chart: Click here

Refinitiv IFR Research/Market Commentary


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