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Aug 19 - 06:55 AM

USD/JPY - Another Big Figure Change On The Cards

By Peter Stoneham  —  Aug 19 - 06:10 AM
  • Stops said to have been tripped on move above 136.30 Ichi cloud top

  • USD/JPY set to make a move on 137.00 as it rides above the ascending cloud

  • Tokyo fix demand ahead of Gotobi tomorrow helped fuel move up

  • Dollar also drawing support from a pick up in U.S. yields

  • Global growth fears continue to push flows towards the dollar and safety

  • A 76.4% Fibo at 137.26 (EBS prices) provides the next bull target

  • Potential weekly engulfing line, not trend reversing but still bullish

  • Weeklies also showing a series of long lower candle shadows: dip demand

  • Sizeable option expiries 135.90-136.00 today, $907 mln total, supportive

For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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