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Jan 06 - 06:55 AM

USD/JPY - Chart Points To A Collapse To The March 2020 Low

By Martin Miller  —  Jan 06 - 05:16 AM
  • USD/JPY chart bias remains on the downside, reinforcing the bearish market

  • Tenkan and kijun lines negative aligned, and this adds to offered structure

  • Looking to get short at 103.20 for a drop to 2020 101.18 low posted in March

  • 14-day momentum has been negative since Dec 11, another sign of weakness

  • Trader TGM2336. EUR/JPY range has been 126.15-126.95 EBS range

  • EUR/USD chart very positive, 1.2400 test is very likely nL1N2JH0IW

Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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