Tue, Sep 27, 2022 @ 05:44 GMT
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Technical Outlook: USDJPY – Fresh Strength Looks For Extension To 113.05/35 Targets, Daily Cloud Underpins

The dollar is regaining traction against yen on Thursday and probing above two day congestion tops at 112.45.

Fresh bulls emerge after long-tailed Doji on Tuesday when dips were contained by strong support, formed by 100SMA and daily cloud top.

Repeated close above 112.24 (Fibo 61.8% of 114.36/108.80 was strong bullish signal for fresh upside which now eyes targets at 113.05 (Fibo 76.4%) and 113.35 (weekly Kijun-sen).

Corrective dips are expected to hold above daily cloud and keep bulls intact.

Extension below the cloud would weaken near-term structure and shift bias lower.

Res: 113.05, 113.35, 113.78, 114.00
Sup: 112.13, 111.80, 111.50, 111.46

Windsor Brokers Ltd
Windsor Brokers Ltdhttp://www.windsorbrokers.com/
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