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Thomson Reuters
Feb 05 - 08:36 PM
USD/JPY - Consolidation Would Produce A Topside Cloud Break
First appeared on eFXplus on Feb 05 - 06:15 PM
  • Flat in Asia, little changed yesterday with a tight range and an inside day
  • 110.00 710M in strikes today may act as a magnet if it's quiet - no data
  • Falling daily cloud is today at 110.72/111.46 - tomorrow at 108.37/109.15
  • Further consolidation today will result in a topside cloud break
  • Cloud top will then be horizontal at 109.15 for over a week - strong support
  • Yesterday's 109.77 Tokyo low and Monday's 110.16 top support/resistance

jpy feb 6 Click here

Source:
Thomson Reuters IFR Markets

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