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USD/JPY rally becoming two-way into 124.50 & 125

USD/JPY wobbly, 1st day with USD/JPY wholly below upper 21-d Bolli since May 18 Hourly Cloud twists at 123.94 at fix, hourly TrendLine & 200-HMA key by 123.75 Early signs overbought rally becoming two-way into 124.50 & 1…

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  • USD/JPY wobbly, 1st day with USD/JPY wholly below upper 21-d Bolli since May 18
  • Hourly Cloud twists at 123.94 at fix, hourly TrendLine & 200-HMA key by 123.75
  • Early signs overbought rally becoming two-way into 124.50 & 125 profit-taking/option defenses
  • Despite soft US Chi PMI, forecast decent jobs data seen keep Fed hike risk alive
  • Big surge in IMM net spec yen shorts warns of frothy trading

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