USDJPY's improving sentiment will test cloud cover
Daily signals in each of the last two days have pointed to a profit-taking recovery and this has occurred.
There have been further strong gains in Asia this morning and this is keeping momentum indicators pointing higher and to a re-test of a daily bear trend and overhead cloud cover.
Management and risk description
Allow room to buy an intraday dip and raise stop to the entry point if the first target is met.
Entry: Market and 101.09, the last five-hour low
Stop: 100.65, today's base in Asia
Target: 102.00, the daily bear trend and 102.78, last week's top
Time horizon: Today only
— Edited by Adam Courtenay
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