Can USD/JPY Get Out of Its Personal Manner?
- USD/JPY exploded larger on Friday into resistance
- Tough posturing clouds confidence on outlook
USD/JPY exploded larger on Friday into resistance
USD/JPY surged larger on Friday with the assistance of some intervention speak, rising off a pair of slopes from April and June. The practically two-figure transfer pushed worth again to resistance by way of the Could and June lows proper across the 10600-mark.
The surge does nothing to assist make clear the image, although. Because it stands actually it solely makes the image even uglier because the pattern from the June excessive was growing considerably properly till the tip of final week. Friday’s rocket larger might solely have a short-term impact, however nonetheless sturdy momentum upward in a downward sloping pattern muddles the image.
If the 10600 threshold continues to behave as a ceiling then maybe the pattern might reassert itself decrease in some unspecified time in the future with a clearer look. If, nevertheless, it’s crossed and the higher parallel from the June excessive is met, then we may…