****** A bounce and setback Friday maintains downside pressures after the break below the 96.95 June prop, back from ahead of the topping line (now 100.00) to point to a more negative tone and further support tests into mid-August.
****** The 8-day RSI, short-term momentum is negative, but not OS, leaving scope to go still lower this week.
****** The risk remains to a 94.85 prop, with the outlook only turning still more negative below the 93.75 low (to aim for the 200-DMA, 93.25).
WHAT CHANGES THIS?
****** Only above 99.95/100.00 re-energizes bull pressures through 100.90/101.55 chart hurdles, to the 102.50 failure peak; overshoot risk 103.65.
Please see latest audio-visual analysis here: members.marketchartist.com/Daily/ USDJPY.pdf
Daily USDJPY
Originally Published on FX Times
****** The 8-day RSI, short-term momentum is negative, but not OS, leaving scope to go still lower this week.
****** The risk remains to a 94.85 prop, with the outlook only turning still more negative below the 93.75 low (to aim for the 200-DMA, 93.25).
WHAT CHANGES THIS?
****** Only above 99.95/100.00 re-energizes bull pressures through 100.90/101.55 chart hurdles, to the 102.50 failure peak; overshoot risk 103.65.
Please see latest audio-visual analysis here: members.marketchartist.com/Daily/ USDJPY.pdf
Daily USDJPY
Originally Published on FX Times
by InformedTrades via InformedTrades
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