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