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May 24 - 04:55 AM

USD/JPY - Gain Consolidation But Bulls Still Have The Edge

By Peter Stoneham  —  May 24 - 03:05 AM
  • Daily chart showing mixed signals but bulls just have the edge

  • The 10-DMA has crossed above the 200DMA, a bullish signal

  • Fourteen day momentum readings are confirming recent gains

  • Gain consolidation just taking some impetus out of the up-move

  • Tues 138.91 high (EBS price) initial resistance

  • Bearish risk provided by a 133.77-94 Jun. 2 cloud twist

  • Twists can appear to attract price

  • We stand aside to see what other signals emerge before entering a position

    For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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