USD/JPY Weak Tag May Signal A Reallocation From Havens
Past performance is not an indicator of future results.
CHART SOURCE: WWW.TRADINGVIEW.COM
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The USDJPY has tagged the lower bottom band.
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However, this tag has been relatively weak and shows a bullish divergence with:
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the middle chart - %b (red trendline); and
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the lower chart – ROC (12) (red trendline).
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This may be suggestive that the last leg down was made with a waning momentum.
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We are monitoring for a strong up day which may be suggestive of a reallocation from the JPY safe haven into the greenback.
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