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Aug 14 - 06:55 AM
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USD/JPY - Suffers A Setback But Still Remains Within The Cloud
By Martin Miller — Aug 14 - 05:27 AM
• Yen's slide to weekly loss prompts bets for another intervention
• USD/JPY slips from 159.53 to 159.07 Friday, according to EBS data, but is stuck within the cloud
• The daily cloud currently spans the wide 158.92-161.42 region
• Spot has also been limited by 159.60, a 50% retrace of 163.99-155.20 intervention fueled slump
• The long tail on the Wednesday candlestick hints at gains in coming sessions
• However, beware USD/JPY and EUR/JPY usually struggles in
August
Daily Chart
(Martin Miller is a Reuters market analyst. The views expressed
are his own)
Source:
London Stock Exchange Group | Thomson Reuters