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Mar 03 - 04:55 PM

USD/JPY - Breaches Recently Dependable Support; Close Could Be Pivotal

By Randolph Donney  —  Mar 03 - 03:15 PM

  • USD/JPY broke its 200-HMA at the 135.80 on EBS and Fri's initial low

  • Wed's and last Fri's 135.25/4.05 lows were caught by that rising MA

  • The uptrend from Feb is at risk if the 10-DMA at 135.66 is closed below

  • A sub-10-DMA close would eye support by 135 and 134.73

  • And it needs to clear major resistance at 137.45-46 to extend

  • 200-DMA is rising toward the Dec. 20 high and 161.8% Fibo from Jan there

  • Close above would be key for 50% Fibo of the Oct-Jan slide at 139.58

  • The 38.2% at 136.66 has been breached, but no daily range entirely above

  • Daily RSIs are falling from moderately overbought levels

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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