By Martin Miller — Apr 09 - 04:12 AM
• USD/JPY failed to sustain the break above tenkan and kijun lines: bull trap
• The daily tenkan and kijun lines have converged at 147.88
• A bull trap is set when a market breaks above a tech level but then reverses
• 14-day momentum remains negative, highlighting the overall bearish market
• A break under Friday's 144.55 (EBS) low would be a negative development
• USD/JPY Trader . Previous update
Daily Chart:
(Martin Miller is a Reuters market analyst. The views expressed are his own)
Source:
London Stock Exchange Group | Thomson Reuters
