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Jan 03 - 08:55 PM

USD/JPY - JPY Firms On Tokyo State Of Emergency Fears

By Andrew M Spencer  —  Jan 03 - 07:39 PM
  • -0.25% with risk off on Tokyo lockdown fears - Nikkei -0.2%

  • 816 new Tokyo COVID-19 cases - push for state of emergency nL1N2JE00V

  • Jibun Bank Japan manufacturing PMI 50 - last 49.7 - no real impact

  • Charts - negative momentum studies, horizontal Tenkan and Kijun lines

  • Daily Ichimoku cloud has capped since June, and flat lines in early January

  • Setup does not suggest a strong trending move is immanent

  • 103.43 Tenkan line, then 103.81 Kijun lines are initial resistance

  • 102.87 December low is major support, which held last week

    For more click on FXBUZ

jpy jan 4 Click here

Source:
Refinitiv IFR Research/Market Commentary

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