DAILY SPOT USDJPY - Thursday's call and technicals
Against a background of a negative outlook on the week, signals in each of the last 2 days have also pointed lower. These have been confirmed, Wednesday posting a 5th lower daily high in a row and a loss of over ¼ Big Fig. While the losses since last week’s 2019 top at 112.40 have taken prices below their 50 & 200 day average rates, the market is attracting buyers back to the market ahead of the 100 day line at 110.70. A sequence of lower daily highs has been ended in Asia this morning and with signals improving the outlook for Thursday is bullish and the call is to buy on the open and then at 111.38, today’s opening trade in Asia with a stop loss at 111.04, yesterday’s base. Targets are to 111.65, Tuesday’s high, 111.90, this week’s top and 112.40, April’s high trade.
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