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Nov 11 - 04:55 PM

USD/JPY - Bulls Sense Rejection Ahead Of Key Hurdles, Bears Waking Up

By Randolph Donney  —  Nov 11 - 03:15 PM
  • USD/JPY 103.20-5.68 intraweek surge on EBS is starting to stumble

  • Third straight day failing to close above the 105.255 cloud top

  • Huge resistance from 100-DMA, dn TL from March & 21-d Bolli by 106

  • That's backstopped by October's 106.11 trend-defining highs

  • Risk-reward for bears is good while those hurdles hold

  • Close below Tuesday's low & 10-DMA at 104.82/80 would be bearish

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Source:
Refinitiv IFR Research/Market Commentary

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