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Thomson Reuters
Aug 30 - 07:24 AM
USD/JPY - Close Above Daily Cloud Needed To Confirm Gains
First appeared on eFXplus on Aug 30 - 05:20 AM
  • Close above the daily cloud Wednesday and gain consolidation early Thursday
  • Narrowing Bolli bands warned of a range breakout: Scope to 111.95 upper line
  • Will need a close above the cloud, 110.65, to strengthen bullish argument
  • Weeklies more constructive but not yet convincing: Monthly cloud top 111.90
  • Mthly momentum flips to the positive and long lower candle wick both bullish
  • Charts point to a buy on dips strategy but will wait stronger signals

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