By Randolph Donney — Apr 19 - 03:55 PM
USD/JPY uptrend claimed the 61.8% Fibo of March's slide at 134.75 Wednesday
Prices today made a new April high at 135.14 on EBS
That high is by the upper 10-day Bolli and channel top off March's lows
Thus a natural spot for a corrective pullback
Wednesday's pullback hit 134.29 near the daily cloud top before rising again
A close above 134.75 would target the 76.4% Fibo and March 9 low at 135.95
Daily RSIs are not overbought, but 10-d Bolli might limit the pace of gains
Wed's 133.96 low at 38.2% of the rise from last Thur's low is good support
The 50% Fibo and weekly tenkan at 133.77 is now major support
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary