USD/JPY Morning Technical Report 2/12/2015
ecPulse
2015-12-01 09:56AM UTC
False breakout has been witnessed yesterday with moving just a few pips above 76.4% Fibonacci at 123.12 as seen on the provided chart.
During the Asian session, USDJPY has retraced again below this level to currently hover around SMA20 along with weakness in the positive trend of ADX and neutral RSI.
Risk versus reward ratio remains inappropriate and thus, we will avoid trading until the pair gives of reliable signals to suggest the next big move.
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