Technical Outlook

Pullback acceleration adds to signals of reversal

The USDJPY accelerated lower on Friday after a triple daily Doji, adding to signals that short recovery from 133.62 (Dec 2 low, the lowest since Aug 16) might be over. Fresh bears hit 50% retracement of 133.62/137.85 upleg and eyeing key 200DMA (135.03) for retest, after attacks on Dec 2/5 failed to register a clear break lower. Rising negative…
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Dollar loses traction after 200DMA capped recovery

The dollar index slipped on Wednesday, reversing bounce of past two days, after it repeatedly failed to clear strong resistance, provided by 200DMA (105.57). Overall bearish daily studies maintain downside pressure, with stall of short recovery, pointing to likely scenario of limited correction before larger bears resume. Although fundamentals…
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