By Randolph Donney — Aug 04 - 03:15 PM
USD/JPY's 5-day, 138.05-143.89 surge on EBS is being retraced
Fri's slide probed 38.2% of the rise at 141.66 by the 200-HMA before basing
But a second big black candle leaves prices well below the daily cloud top
If 141.66 is closed below, the 50%/tenkan at 140.97 is eyed next
Hourly tenkan and kijun at 142.225 are initial hurdles
Fri's high and the hourly cloud top at 142.90/98 now are next
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary