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
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Source:
Refinitiv IFR Research/Market Commentary