Technical Analysis – USDJPY neutral, weighed by Ichimoku cloud
Posted on October 14, 2015 at 6:46 am GMTSince its plunge from 125.27 in mid-Aug to 116.19 on Aug 24, USDJPY has been confined to a 118.58-121.31 range. The key level that prices are hovering around is at 120.00. USDJPY remains capped by the daily Ichimoku cloud and this is keeping the bias for a bearish resumption. The tenkan-sen and kijun-sen lines are negative aligned, highlighting the overall bearish market structure. A break below the October 2 low of 118.67 would increase a downside move. RSI is trending [..]