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Opportunity in an Often Overlooked Currency
USD/JPY traded at its highest level in three weeks on Tuesday, but encountered strong resistance at the 2ndsquare root relationship of the year’s low in the 102.75 area Our near-term trend bias is higher in the rate while above 101.35 The 102.75 area remains critical resistance and is a barrier that must be overcome soon if the rate is to commence a more meaningful move higher A cycle turn window is seen over the next couple of days A daily close below the 4th square root relationship of the year’s high at 101.35 would turn us negative on USD/JPY again XAU/USD touched its highest level since late October on ... (full story)