Explore eFXplus Derived Data That Drive Results
A Data Partner of:
Refinitiv
Mar 01 - 05:55 PM

USD/JPY - Nearing Major Resistance And Potential Corrective Fade Trade Opp

By Randolph Donney  —  Mar 01 - 02:56 PM
  • USD/JPY's near August's 107.05 high & 61.8% Fibo of Jun-Jan drop at 107.08

  • Daily RSIs already O/B in mid-70s on the approach to the key resistance

  • Weekly RSIs are at their highest since November 2018

  • Potential fade trade @107.05, stop past 161.8% Fibo off Jan's base @107.32

  • The 100-WMA at 107.26 also provides backstopping

  • Decent risk-vs-reward on a slide to 50% Fibo & Feb. 17 high at 106.22

For more click on FXBUZ


Chart Click here

Source:
Refinitiv IFR Research/Market Commentary

Subscription

  • eFXplus
  • End-user license agreement (EULA)

About

  • About
  • Contact Us

Legal

  • Terms of Service
  • Privacy Policy
  • Disclaimer
© 2021 eFXdata · All Rights Reserved
!