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Feb 17 - 05:55 AM

USD/JPY - Pushing Hard Against A Falling Ichimoku Cloud

By Peter Stoneham  —  Feb 17 - 04:20 AM

  • Clear break above 30-day upper Bollinger and a marked pick up in momentum

  • A minimum correction of the 151.94-127.22 drop cleared at 133.05

  • The 38.2% retracement of this move is at 136.66

  • Price at levels last seen in late December

  • Cloud base is falling away to 131.97 today

  • Base is backstopping the rising tenkan and 10-DMA, last at 132.41-66

  • We bid by 132.70 but may need to raise entry point

    for more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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