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Jul 19 - 04:55 AM

USD/JPY - Might Gain The Upper Hand As Daily Cloud Support Widens

By Martin Miller  —  Jul 19 - 02:45 AM
  • USD/JPY is hovering above daily cloud support that spans 109.12-55

  • If USD/JPY fails to drop under daily cloud soon, bulls will likely regroup

  • The cloud is set to thicken in coming sessions, limiting the downside

  • A rising USD/JPY would be aided by growing cloud support below the market

  • Bulls need a daily close above tenkan line at 110.17 to tighten their grip

  • EUR/JPY sees 129.66-129.89 on EBS. USD/JPY Trader TGM2336nL1N2OS0I3

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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