USD/JPY Weak Tag May Signal A Reallocation From Havens

Russell Shor, CFTe, MFTA FXCM

Past performance is not an indicator of future results.

CHART SOURCE: WWW.TRADINGVIEW.COM

The USDJPY has tagged the lower bottom band.
However, this tag has been relatively weak and shows a bullish divergence with:
- the middle chart - %b (red trendline); and
- the lower chart – ROC (12) (red trendline).
This may be suggestive that the last leg down was made with a waning momentum.
We are monitoring for a strong up day which may be suggestive of a reallocation from the JPY safe haven into the greenback.

Author

Russell Shor, CFTe, MFTA

FXCM

Russell Shor (MSTA, CFTe, MFTA) has an Honours Degree in Economics from the University of South Africa and holds the coveted Certified Financial Technician and Master of Financial Technical Analysis qualifications from the Interna

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