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Apr 16 - 04:55 PM

USD/JPY - Overbought Heading Into Key 155.00/20 Resistance Test, Channel Above

By Randolph Donney  —  Apr 16 - 03:35 PM
  • USD/JPY is closing the gap on major resistance at 155.00/20

  • The 155 figure hurdle is also by the upper 10-wk Bolli

  • The weekly ATR-projected top is by 155.20

  • As are two 161.8% Fibo objectives off major 2023 lows

  • Daily RSIs are the most O/B since 2022, but not bearishly diverging

  • Top of rising channel off Dec & Mar lows vs Jan & Feb highs is @156.40 Wed

  • A possible backstop if 155.20 is broken above before a correction

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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