USDJPY - temporary profit taking pullback to continue
​Having been bullish for some time, the end to a sequence of higher daily lows switched Wednesday's signals for USDJPY to bearish and these were confirmed with a strong 1 Big Fig sell-off. The pullback is probably corrective and temporary and it has already stalled near the 13 day average rate as well as to 112.79, a 62% Fibonacci. Despite this, signals continue to point lower, so with this in mind the outlook for Thursday is to sell on the open and then at 113.43, today's high in Asia with a stop loss at 113.97, yesterday's top. Targets are to 112.82/86, the 5th July and today's Asia lows, 112.39, July's open and 111.94, July's low trade.
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.