143.54 - Intra-day low.
143.28 - Last week's low (Mon).
142.84 - 50% r of 140.36-145.31.

USD/JPY - 143.87.. The pair swung sideways initially in Asia n European mor ning as market focus was on other G7 currencies. Price ratcheted higher fm 144. 42 to 144.93 in NY morning b4 tumbling in tandem with U.S. yields to 143.90.

On the bigger picture, dlr's spectacular rally fm 2011 historic 75.32 low (Mar) due to co-ordinated yen-selling intervention by G7 central banks to weaken the yen in the aftermath of Japan's earthquake and tsunami of Mar 2011 to 125.86 (2015) confirms major low has been made. Although price fell back to 99.00 in mid -2016 n swung broadly sideways until 2021, price rallied in tandem with US yields to a 24-year peak of 139.39 in mid-Jul n then strg gain to 145.89 in post-BoJ Thur signals uptrend remains in force. However, dlr's spectacular plunge to 140. 36 on BoJ's yen buying intervention signals correction has occured, as long as 138.81 (50% r of 131.74) holds, upside bias remains, abv 144.70, 145.89 again.

Today, dlr's selloff fm 145.89 to 140.36 earlier on BoJ's intervention signals temp. top made, subsequent rise to 145.31 Mon suggests correction possi= bly over, intra-day weakness to 143.54 may head to 143.28, o/sold readings may keep price abv 142.84. Only abv 144.42 signals low is made n yields 144.80/60.

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AceTrader Team

AceTrader

Led by world-renowned technical analyst Wilson Leung, we have a team of 7 analysts monitoring the market and updating our recommendations and commentaries 24 hours a day.

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