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Oct 12 - 04:55 PM

USD/JPY - Eyes A 2023 High Breakout, But Obstacles Are Nearby And Pre-2022 Peak

By Randolph Donney  —  Oct 12 - 04:00 PM
  • USD/JPY uptrend is nearing 2023's Oct. 3 150.165 peak

  • Clean breakout Thur above dn TL from Oct. 3-6 highs by tenkan & 21-DMA

  • The Oct. 3 peak has upper 21- and 30-day BBs nearby at 150.17/24

  • May hamper a run toward 2023's rising channel top, 2022's peak @151.63/94

  • Daily RSIs rising again after bearish, O/B divergence was corrected

  • But most O/B wkly RSI since Oct 2022 brings bearish divergence top risk

  • 10-week BB, weekly ATR-projected top at 150.80/1.29 are also hurdles

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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