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Thomson Reuters
Aug 31 - 07:24 AM
USD/JPY - Poised To Drop Out Of Its Daily Ichimoku Cloud
First appeared on eFXplus on Aug 31 - 04:40 AM
  • Not quite a bearish engulfing candle Thurs but still a bearish signal
  • Price failing for second day to hold an ichimoku cloud break
  • Risk is now for USD/JPY to drop out of the fairly thick cloud
  • Much of the recent 109.78 to 111.83 rally now negated
  • Cloud base is at 110.65 and 61.8% of the 109.78-111.83 move comes at 110.56
  • Weeklies clinging to a range break above the 100WMA but losing traction

USD/JPY Trader:

USD/JPY Daily Ichimoku Chart: Click here

Source:
Thomson Reuters IFR Markets

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