Continuum_Economics

USD/JPY: Extending gains

Long
FX:USDJPY   U.S. Dollar / Japanese Yen
13:15 GMT - No change in the bullish tone, as daily stochastics and the Tension Indicator continue to track higher. January gains are now approaching congestion around 107.00 and the 107.15 Fibonacci retracement , where mixed intraday studies could prompt short-term reactions. Broader weekly charts are bullish , however, highlighting a later break and continuation towards 107.50, and higher. Meanwhile, support is down to congestion around 106.00, and should underpin any immediate setbacks. A close beneath here, not seen, would turn sentiment cautiously Negative and open up congestion around 105.50.
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