USD/JPY - Demand Dominates

Alan Collins 3cAnalysis

A rising trend of higher daily lows and highs and improving sentiment above the 50 & 100 day average rates have kept this week’s signals pointing higher. These are so far being confirmed as Tuesday extended the trend with a gain of ½ Big Fig and a fresh 2 ½ month high at 108.90. While this is positive prices are testing their 200 day line and until this level is clearly broken the outlook for Wednesday remains just cautiously bullish and the call is to buy modestly on the open and then at 108.40, Tuesday’s opening trade with a stop loss at 108.03, this week’s base. Targets are to 108.83/88, today’s Asia high, 109.07, the 200 day line and 109.32, August’s top.

Demand Dominates

Author

Alan Collins

3cAnalysis

Alan has been involved in the financial markets for more than 30-years.

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