USDJPY rally stalled in front of 115, where now? - BBH

Sandeep Kanihama FXStreet Contributor

Research Team at BBH, noted that the dollar stalled in front of JPY115, having reached JPY114.80 on December 1.

Key Quotes

“It retraced more than 38.2% of the week's gains (from November 28 low near JPY111.35), which was found near JPY113.50. The 50% retracement is found at JPY113.10, and the 61.8% is near JPY112.70. The RSI did not confirm the new high, leaving a bearish divergence in its wake. The Slow Stochastics have been moving lower, and also did not confirm the new high recorded. The MACDs have not turned down but are set to do so early next week.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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