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May 02 - 04:55 AM

USD/JPY - Chart Medium-Term Outlook Is Still Very Bullish

By Martin Miller  —  May 02 - 03:15 AM
  • USD/JPY has scope for a break above Monday's 160.24 new multi-year high

  • Medium-term outlook bullish since spot overcame major 152.60 Fibo in April

  • 152.60 Fibo, a 38.2% retrace of major 277.65 to 75.31 (1982 to 2011) drop

  • We are long at 155.25 for 165.00, our stop is just below 150.00

  • USD/JPY looks set for big gains despite Japan's worries nL1N3H40FH

  • EUR/JPY 165.68-167.37 EBS range on Thursday. USD/JPY Trader TGM2336

Source:
Refinitiv IFR Research/Market Commentary

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