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Apr 17 - 05:55 PM

USD/JPY - Bullish Price Action Reinforces Last Week's Base Building

By Randolph Donney  —  Apr 17 - 04:00 PM
  • Bullish trading Monday well above 50% of March's slide at 133.77

  • And set to close well above 133.77 Fibo for the first time

  • Running into some resistance near the daily cloud top

  • But 61.8% Fibo at 134.75 is well within reach

  • The 76.4% Fibo and March 9 low at 135.95 are target on a 134.75+ close

  • The 21-day Bolli bands are expanding in trend building fashion

  • That after the now rising 21-DMA helped put a base under last week's lows

  • Weekly cloud base held again last week and is now flat at 132.24

  • Weekly tenkan at 133.77 is by Monday's 133.72 low on EBS

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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