Slobodan Drvenica
Windsor Brokers
USD/JPY
The USDJPY regained traction on Tuesday and resumed the upleg from Aug 11 trough (131.73).
Fresh bullish acceleration broke through important Fibo barrier at 133.83 (38.2% of 139.39/130.39) and pressuring the triangle resistance trendline (134.37).
Break of these obstacles would improve near-term structure and open way for further advance, though daily studies are mixed and the action is likely to lack clearer direction while holding within the triangle, with stronger signals expected on break of boundaries of rising thick daily cloud (132.05/135.17).
Res: 134.37; 134.61; 134.89; 135.17.
Sup: 133.83; 132.94; 132.36; 132.05.
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The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.
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