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Oct 10 - 05:55 PM

USD/JPY - Uptrend Consolidation Is Running Out Of Pullback Space, Momentum

By Randolph Donney  —  Oct 10 - 03:20 PM
  • USD/JPY uptrend still consolidating above the daily kijun, now at 148.04

  • Kijun also caught last week's 150.165-147.30 dive on EBS

  • Uptrend is intact unless kijun is closed below

  • Prices have been above the kijun since July

  • Last two kijun breaks saw cloud tested well below, top at 145.40 now

  • Three of last 4 days' highs capped by the 10-DMA, now at 149.13

  • Daily range above the 10-DMA would put focus back on the 150.165 peak

  • Daily momentum is now negative, so support boost is needed soon

For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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