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Jun 12 - 02:55 AM

USD/JPY - Battle Rages Ahead Of Key Cloud Base Support

By Martin Miller  —  Jun 12 - 01:55 AM
  • While USD/JPY's overall bias is squarely on the downside, a battle rages

  • Bulls are making a final stand ahead of the daily cloud base at 106.45

  • Spot left a "bull trap" was left above the 109.53 Fibo early in the week

  • 109.53 Fibo is a 61.8% of the 111.71 to 105.99 (March to May) EBS drop

  • Wed's daily close under the 30-DMA, now at 107.53, has weakened the market

  • USD/JPY Trader TGM2336. Previous update nL1N2DO099

  • EUR/JPY has seen a 120.33-121.20 range, according to prices on the EBS

Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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