USD/JPY Bears Seek to Regain Control
USD/JPY is back on the defensive this week with a two-day sell-off of nearly 2% once again approaching multi-month uptrend support.
The focus is on a reaction into confluent support near 154.09 IF reached with a close below 152.55 ultimately needed to suggest a larger reversal is underway here.
Initial resistance eyed at the yearly high-day close (HDC) at 156.30- with a breach / close above the upper parallel (blue) needed to shift the focus back towards the the yearly high-close (HC) at 158.28.
Bottom line: look for a reaction on stretch into 154 for guidance with the risk lower sub-157.
NFPs on tap Friday. . .
Michael Boutros
MBForex
The focus is on a reaction into confluent support near 154.09 IF reached with a close below 152.55 ultimately needed to suggest a larger reversal is underway here.
Initial resistance eyed at the yearly high-day close (HDC) at 156.30- with a breach / close above the upper parallel (blue) needed to shift the focus back towards the the yearly high-close (HC) at 158.28.
Bottom line: look for a reaction on stretch into 154 for guidance with the risk lower sub-157.
NFPs on tap Friday. . .
Michael Boutros
MBForex
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.