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Sep 24 - 04:55 PM

USD/JPY - Daily And Weekly Techs Favor A Test Of 2021's Highs

By Randolph Donney  —  Sep 24 - 03:34 PM
  • Major bullish USD/JPY rally from Wed's 109.11 Sept-Aug range lows

  • Now probing August's 110.80 swing high on EBS

  • Friday's range wholly above the daily cloud at 110.19

  • Weekly close above 110.54, 61.8% Fibo of 111.66-108725 July-Aug drop, a buy

  • Weekly Bollis widening from tightest since 2014 suggests a major move

  • 2021's 111.66 high from July eyed. 2020/19 highs are at 112.21/39

  • 21-mo Bolli top and monthly cloud top are at 112.10/43

  • Good value on a pullback toward support by 110 if able

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Source:
Refinitiv IFR Research/Market Commentary

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