USD/JPY Climb May Continue With Reversal Candlesticks Missing
- USD/JPY Technical Strategy: Longs Preferred
- Break Through 105.40 Barrier Opens The 107.00 Handle
- Correction Questionable Amid Void Of Reversal Candles
USD/JPY has won the assault on the 105.40 target with an absence of key reversal signals opening the potential for further gains. Clearance of the noteworthy hurdle would set the scene for run on the psychologically-significant 107.00 ceiling.
USD/JPY: Lack of Reversal Signals Opens Further Gains
Daily Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here
Intraday price action on the four hour chart reveals a similar narrative to the daily. With bearish candlesticks missing from the scene, the pair may be primed for a continued push higher.
USD/JPY: Climb May Continue As Congestion Cleared
Four Hour Chart - Created Using FXCM Marketscope 2.0,Volume Indicator Available Here
By David de Ferranti, Currency Analyst, DailyFX
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