0
393
USD/JPY has powered to higher in leaving Hanging
Man formation to fall flat. With bearish signals lacking - the pair may be
primed for further gains. Clearance of the nearby 115.90 hurdle could
pave the way for an ascent on the October 07 high near 117.90 price.
A daily
close below 114.50 would be required to warn of a top for the pair.
Tensions are running high in intraday trade, as evidenced by a string of
Doji formation on the four hour chart. Yet a lack of more definitive
reversal signals suggests the bulls may yet regain their grip on prices
to lead the charge higher.