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Aug 14 - 05:55 PM

USD/JPY - Uptrend Presses Rising Range Top, 146.105 Fibo Is Next Hurdle

By Randolph Donney  —  Aug 14 - 03:20 PM
  • USD/JPY makes new 2023 highs, with a 145+ close eyed by bulls

  • Next major hurdle is 76.4% of the 2022-23 drop at 146.105 on EBS

  • Monday's 145.575 high so far capped by up TL across July & Aug swing highs

  • That TL rises to 145.82 on Tuesday

  • Top of rising channel since March is at 147.87 should 146.10 not cap

  • Elliott wave objective off January and July bases is at 147.93

  • Upper 13-wk Bolli is at 146.05. It helped cap prior highs this year

  • Daily RSI enters O/B, but with no bearish divergence thus far

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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