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Aug 16 - 05:55 PM

USD/JPY - Due To Close Above Last Key Hurdle Before 148

By Randolph Donney  —  Aug 16 - 03:55 PM
  • USD/JPY now above 76.4% of 2022-23's 151.54-127.215 slide at 146.105 on EBS

  • A close above there raises the risk of a full retracement

  • But 2023's up channel top, Wave 5=Wave 1 target & weekly ATR top are by 148

  • Prices also pressing up against upper 21- & 30-day Bollis

  • Daily RSI is o/b at 75, but no bearish divergence thus far

  • Seventh straight day w higher lows and highs is most since October

  • That shortly before the 32-yr 151.94 peak was made

  • Close below Tues's 145.10 would end that bullish streak

  • More support is at 145 and bull in control for now

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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