Hi,
The USDJPY saw a good break of a resistance level last week (10925). The extension was muted as we were looking at the 1272 extension of the leg. The stochastic shows that we are in a congestion area as it is looking like %K and %D wants to cross.
A close below the 10925 would mean we may need to look at plays to the down side with targets being the 108 handle. Whilst anticipating that we might come into some chop.
All the best,
Tan
The USDJPY saw a good break of a resistance level last week (10925). The extension was muted as we were looking at the 1272 extension of the leg. The stochastic shows that we are in a congestion area as it is looking like %K and %D wants to cross.
A close below the 10925 would mean we may need to look at plays to the down side with targets being the 108 handle. Whilst anticipating that we might come into some chop.
All the best,
Tan