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Dec 15 - 05:55 PM

USD/JPY - Downtrend Reasserting Itself, 103.18 Trend Lows At Risk

By Randolph Donney  —  Dec 15 - 03:45 PM
  • Main downtrend reasserting itself after breaking 4-week lows on Monday

  • Rebound from Monday's lows rejected near the tenkan and 10-DMA

  • Prices now back down by Monday's 103.52 low on EBS

  • Tight Bolli bands have begun to expand to accommodate a bearish breakout

  • There's pent-up energy after four consecutive inside weeks

  • Falling daily cloud and down TL from March's peak offering fade points

  • Lower 10-wk Bolli (3-std dev) support's @102.60 if 103.18 trend lows breaks

For more click on FXBUZ


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Source:
Refinitiv IFR Research/Market Commentary

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