- Those US dataprints and the whipsaw price action in US yields working as a solid catalyst for the intraday reversal in the JPY. USD/JPY's rallied sharply off the pre-data lows and is testing the Y154.00 at typing, but it's not just against the USD that the JPY is trimming gains: EUR/JPY is now in minor positive territory on the day and a finish at current, or higher, levels would mark only the first positive close since Thursday last week.
- A close at current levels in the cross would also form a bullish hammer on the daily candle charts, as markets potentially look to find a bottom after the sharp two-week sell-off.
JPY: Close at Current Levels Would Confirm Bullish Hammer in EUR/JPY
Last updated at:Jul-25 13:16By: Edward Hardy
Japan+ 1
- Those US dataprints and the whipsaw price action in US yields working as a solid catalyst for the intraday reversal in the JPY. USD/JPY's rallied sharply off the pre-data lows and is testing the Y154.00 at typing, but it's not just against the USD that the JPY is trimming gains: EUR/JPY is now in minor positive territory on the day and a finish at current, or higher, levels would mark only the first positive close since Thursday last week.
- A close at current levels in the cross would also form a bullish hammer on the daily candle charts, as markets potentially look to find a bottom after the sharp two-week sell-off.
