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Aug 02 - 05:00 AM
USD/JPY's Huge Black Candle, Cloud Rejection, Focus On Fibo
First appeared on eFXplus on Aug 02 - 02:50 AM
  • Formed a huge black candle Thu: closed down a whopping 139 pips on the EBS
  • Biggest one-day decline since May 2017, a massive rejection of the cloud
  • Thick daily Ichimoku cloud currently spans 108.04-109.59
  • Near-term focus is on the June 106.78 low initially and then 106.06 Fibo
  • 106.06 Fibonacci level is a 76.4% retrace of the 104.10 to 112.40 rise
  • Looking to get short ahead of cloud base. EUR/JPY range: 118.45-119.12

USD/JPY Trader:

Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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