SPOY USDJPY - overbought, but dip buying to dominate sentiment
This week’s signals for USDJPY are bullish and these are being confirmed with Monday’s over ¾ Big Fig gain. Although prices are trading above their 50 & 100 day average rates which is positive, they are testing the 200 day and 200 week lines, levels which have the potential to attract profit taking selling. In the absence of a sell signal though we would reduce weekly longs and for Tuesday buy just modestly on the open and then at 111.42, today’s low in Asia with a stop loss at 110.80, yesterday’s base. Targets are to 111.85, 112.19, the 8 week high and 112.86, the 9 week top.
3cAnalysis – live analysis that improves trading performance. Our analysis is highly respected by major Institutions throughout the UK and Europe. We set the standards for high end, live, independent technical analysis research across 3 asset classes and 3 time frames and with exceptional directional success over more than 9 years.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.