USD/JPY Climb May Continue With Reversal Candlesticks Missing

Talking Points

  • USD/JPY Technical Strategy: Longs Preferred
  • Break Through 105.40 Barrier Opens The 107.00 Handle
  • Correction Questionable Amid Void Of Reversal Candles

USD/JPY has won the assault on the 105.40 target with an absence of key reversal signals opening the potential for further gains. Clearance of the noteworthy hurdle would set the scene for run on the psychologically-significant 107.00 ceiling.

USD/JPY: Lack of Reversal Signals Opens Further Gains

USD/JPY Climb May Continue With Reversal Candlesticks Missing

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

Intraday price action on the four hour chart reveals a similar narrative to the daily. With bearish candlesticks missing from the scene, the pair may be primed for a continued push higher.

USD/JPY: Climb May Continue As Congestion Cleared

USD/JPY Climb May Continue With Reversal Candlesticks Missing

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

By David de Ferranti, Currency Analyst, DailyFX

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