Level Technical Significance

146.08 Daily High May 16

145.75 Daily High May 19

145.69 Daily Cloud Base

145.51 Daily High May 20

143.79 ==Update Price==

143.45 Daily Low May 8

142.45 Daily Low May 7

142.36 Daily Low May 6

141.97 Daily Low Apr 29

Strategy Sell @ 146.05

Current Position Flat @ 154.30

Target: Stop:

Open/Close 03-Feb-25

The thick daily cloud, that currently spans the 145.69-148.58 region, has limited USD/JPY's upside. Spot has slipped below the broken kijun line, currently at 144.27, the midpoint of the last twenty-six trading sessions. A daily close below the kijun line would add significantly to the downside risk. Previous . A combination of pressures hint at a bigger USD slump

Daily Chart:

(Martin Miller is a Reuters market analyst. The views expressed are his own)