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Thomson Reuters
Nov 29 - 05:00 AM
USD/JPY - Bulls Battling To Stay Above A Crucial Chart Point
First appeared on eFXplus on Nov 29 - 02:40 AM
  • Bulls are battling to keep spot above the tenkan line, which is at 113.17
  • The tenkan line is the mid point of the last nine daily trading sessions
  • Bulls need to avoid a daily close under tenkan as that would be negative
  • Spot dropped in Asia after it failed to sustain the recent 113.76 Fibo break
  • The 113.76 Fibo is a 76.4% retrace of the 112.30 to 114.03 recent gain
  • We are looking to get long at 113.20. Previous bullets

USD/JPY Trader:

Daily Fibo Chart: Click here

Source:
Thomson Reuters IFR Markets

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