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Apr 15 - 01:55 PM

USD/JPY - Is Nearing Major Resistance At 155.00/20 As Overbought Risk Rises

By Randolph Donney  —  Apr 15 - 12:05 PM
  • USD/JPY rises rapidly toward the next major technical targets at 155.00/20

  • The 155 level is a major psychological hurdle

  • While two 161.8% Fibo objectives off key 2023 lows are by 155.20

  • Breakout above 152, by prior two years' highs, brings 34-year highs

  • Daily RSIs are now most O/B since Oct 2022's key 151.94 price peak

  • Weekly ATR top @155.18 also lifts pullback risk before a 155.20 breakout

  • The daily tenkan is now by Friday's 152.60 low

  • The long-legged Doji off that low makes it more important support

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Source:
Refinitiv IFR Research/Market Commentary
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