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Dec 03 - 05:55 PM

USD/JPY - Bearish Bias Burnished, Tenkan On Top, Last Week's Lows Prop

By Randolph Donney  —  Dec 03 - 03:35 PM
  • USD/JPY's bearish bias was burnished by drop below the 104.22 tenkan

  • It had caught prices yesterday and through the London morning today

  • A break toward Nov's 103.18 EBS low was averted by last week's 103.68 low

  • A failed rebound into the tenkan at 104.22 would weaken outlook further

  • A close below 103.68 low would be a bearish end to a 4-week consolidation

  • Only the Mar. 12 103.10 pullback low ahead of March's 101.18 spike low

    For more click on FXBUZ

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Source:
Refinitiv IFR Research/Market Commentary

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