By Andrew M Spencer — Jan 03 - 10:03 PM
-0.3%, as JPY leads USD lower on Tokyo lockdown fears nL1N2JF00H
Nikkei -0.4%, fell on Tokyo state of emergency fears nL4N2JF0DT
Charts - negative momentum studies, horizontal Tenkan and Kijun lines
Daily Ichimoku cloud has capped since June - flat lines for next two weeks
Setup suggests consolidation, rather than a trending move
103.43 Tenkan line, then 103.81 Kijun lines are initial resistance
102.87 December low is major support, which held last week
Sustained 102.87 break would open the door to 101.18 2020 low
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jpy 2 jan 4 Click here
Source:
Refinitiv IFR Research/Market Commentary