RSS UOB on what to watch for a USD/JPY move to 151.80

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 RSS UOB on what to watch for a USD/JPY move to 151.80

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In a research note UOB Global Economics & Markets Research says USD/JPY may fall to 151.80, the bottom of their weekly Ichimoku cloud.

Also:

  • daily moving average convergence divergence indicator shows clear bearish divergence, similar to the divergence seen during the pullback to 148.63 last year
  • weekly stochastics indicating a crossover in overbought territory
  • nominates key level to eye is 153.60, trend line support, a break could trigger a retest of 151.80

The ForexLive free charting app has a ICHI cloud indie if you'd like to check it out:

This article was written by Eamonn Sheridan at www.forexlive.com.
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