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Nov 20 - 04:55 PM

USD/JPY - Shorts Have Upper Hand As Major Reversal Is Underway

By Randolph Donney  —  Nov 20 - 02:50 PM
  • USD/JPY retreats after 2023/22's major double-top at 151.92/94

  • Prices probed 23.6% of July-November rise at 148.32 with 148.10 low on EBS

  • Below both daily cloud top and lower 30-day BB, 1st time since July's low

  • But prices not yet O/S and tenkan-kijun bearishly converged above at 150.01

  • The 21-WMA and 100-DMA at 146.64/54 last eyed on a sub-148 close

  • Short's 147.50 target is by the Oct. 3 spike low at 147.30.

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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