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Mar 31 - 05:55 PM

USD/JPY - Onus Is On USD/JPY Bulls As Recent Medium-Term Slide Hit Major Midpoint Hurdles

By Randolph Donney  —  Mar 31 - 03:50 PM

  • USD/JPY's rebound from March lows to 133.60 repelled at March midpoints

  • From Fri's 133.60 EBS high it fell toward 55-DMA & cloud base @132.58/51

  • The high couldn't reach 50% of March's slide and tenkan at 133.77

  • The falling 100-DMA and 21-WMA also loomed at 133.75/89

  • The 21-WMA was probed but not closed above in early March probes

  • That as 21-wk Bollis sharply contract, making the 21-WMA more pivotal

  • Instead, prices threaten to close below last week's 133 high & 55-WMA

  • Daily & weekly RSIs are at neutral readings after rebounding

  • Daily RSI's rebound was from O/S bullish divergence lows last Friday

  • Fading rallies favored unless the 133.77 hurdles are closed above

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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