UOB on what to observe for a USD/JPY transfer to 151.80

In a research note UOB Global Economics & Markets Research says USD/JPY may fall to 151.80, the bottom of their weekly Ichimoku cloud.

Also:

• daily moving average convergence divergence indicator shows clear bearish divergence, similar to the divergence seen during the pullback to 148.63 last year
• weekly stochastics indicating a crossover in overbought territory
• nominates key level to eye is 153.60, trend line support, a break could trigger a retest of 151.80

The ForexLive free charting app has a ICHI cloud indie if you’d like to check it out:

This article was written by Eamonn Sheridan at www.forexlive.com.