USD/JPY Carves Fresh Highs As Absence Of Bearish Patterns Opens 108.00

Talking Points

  • USD/JPY Technical Strategy: Longs Preferred
  • Daily Close Above 107.00 Opens Grind Towards 108.00
  • Correction Questionable Amid Void Of Reversal Candles

USD/JPY has breached the 107.00 target with an absence of bearish signals left in its wake. The daily close above the former ceiling may set the pair up for a grind towards the next psychologically-significant hurdle at 108.00.

USD/JPY: Lack of Reversal Signals Opens Further Gains

USD/JPY Carves Fresh Highs As Absence Of Bearish Patterns Opens 108.00

Daily Chart – Created Using FXCM Marketscope 2.0, Volume Indicator Available Here

The four hour chart reveals a struggle amongst traders near the 107 handle. Yet the bulls appear unprepared to relinquish their grip on prices amid a void of bearish reversal signals. This leaves the risks skewed to the upside.

USD/JPY: Climb Encounters Congestion, Yet Bulls Remain In Control

USD/JPY Carves Fresh Highs As Absence Of Bearish Patterns Opens 108.00

Four Hour Chart – Created Using FXCM Marketscope 2.0,Volume Indicator Available Here

By David de Ferranti, Currency Analyst, DailyFX

Follow David on Twitter: @Davidde

To receive David’s analysis directly via email, please sign up here.

Learn how to read candlesticks to help identify trading opportunities with the DailyFX Candlesticks Video Course.

This entry was posted in Binary Options Signals Related News and tagged , , . Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *