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Dec 06 - 03:48 PM
USD/JPY - Uptrend Stalled, But Yet To Reverse Below 108.235 Props
First appeared on eFXplus on Dec 06 - 02:05 PM
  • USD/JPY holding above the 55-DMA that caught this week's low

  • But price action is disconcerting for the uptrend since mid-October

  • The daily cloud top and Nov. 14 swing low at 108.235 look crucial

  • A break and close below them would end the uptrend from Oct's 106.48 low

  • Bulls need a 110+ close to take on Fibo targets by 110.50

Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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