描述
⋅ Hawkish comments from Fed’s Yellen on Friday has triggered broad-based USD rally.
USD/JPY opened Monday with a 25-pip bullish gap and is trading 0.48 pct higher on the day around 102.23.
The pair has broken 20-DMA and momentum has turned bullish. Stochs, RSI and CCI indicate further upside in the pair.
Scope for test of 50-DMA at 102.74, violation there could see test of 103.51 (50% Fib) and then major trendline resistance and 61.8% Fib at 104.45.
Supports on the downside are seen at 101.41 (23.6% Fib), 101.06 (20-DMA) and 100.87 (Aug 5 low).
US personal spending and income report due later today will be in focus for further direction.
Good to buy dips around 102 levels, SL: 101, TP: 102.75/ 103/ 103.50
评论
⋅ USD/JPY edges lower from highs of 103.22. Book partial profits.
Slight weakness on hourly charts.
Strong support at 102.83, break below could see drag upto 102.40.
评论
⋅ All targets hit. Book partial profits.
Raise trailing stops to 103.20, target 104.
Focus on US ISM Manufacturing and Markit’s PMI data due later in the NA session.
评论
⋅ Pair hit 104 before turning lower on poor show in US ISM data overnight.
Focus on US NFP later today in the NZ session.
Bias neutral for now.