USD / JPY 10-10

As a direct result of Fri’s poke to another new high for the past month’s impressive rebound, the 240-min chart below shows that the market has identified 29-Sep’s 112.21 low as the latest smaller-degree corrective low it now has to sustain gains above to maintain a more immediate bullish count.  It’s failure to do so will confirm a bearish divergence in momentum, stem the rally and expose at least an interim correction of the rally from 08-Sep’s 107.31 low.  Per such we are considering 112.20 our new short-term but key risk parameter from which traders are advised to rebase and manage the risk of a cautious bullish policy.

 

USD JPY 10-10

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