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Jan 05 - 04:55 PM

USD/JPY - Corrects Oversold Pressures, But Bigger Reversal Signals Awaited

By Randolph Donney  —  Jan 05 - 02:25 PM

  • Swift rebound from Tues's o/s trend low, false break of Dec-Aug lows

  • Rise capped at 134.045 on EBS by the 21-DMA at 134.06

  • Last close above the 21-DMA was when it was at 147.69 on Nov. 3

  • Prices pierced the downtrend line from the 151.94 peak Thur by 133

  • Also the daily kijun at 133.845, but could close above it

  • Needs close above the 21-DMA and 23.6% of 151.94-129.51 dive at 134.80

  • That would target the 200-DMA @136.43 or 38.2% @138.08 by Dec's 138.18 high

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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