Continuum_Economics

USD/JPY: Corrective pullback

Short
FX:USDJPY   U.S. Dollar / Japanese Yen
13:25 GMT - The anticipated exhaustive run towards the 106.00 Fibonacci retracement has given way to a pullback, as unwinding intraday studies prompt fresh selling interest and push prices below 105.00. Overbought daily stochastics are also unwinding, and the positive Tension Indicator is turning down, highlighting a deterioration in sentiment. Focus is on 104.50/58, with a further break opening up the 104.20 retracement. Meanwhile, a close above 105.00, if seen, would turn sentiment Neutral and put prices into consolidation below 105.50.
We are an award winning independent research firm, covering Macroeconomics, Policy and Financial Markets. Our Technical Analysis coverage spans 40 FX pairs across developed and emerging markets. Register for a free trial at http://www.continuumeconomics.com

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter