Tuesday, January 27, 2015

USD/JPY bulls trying to force intra-day recovery

USD/JPY bulls trying to force intra-day recovery

  • Heavy market showed by long shadows on recent hourly candlestick lines

  • Bulls hurt further by latest hourly close back below 118.07 pivot point

  • Spot sold since Asia came in, down from the 118.66 session high

  • Nikkei futures have been softer side in Europe

  • 48/72 hr log correlation between Nikkei futures & spot is +0.55/+0.66       

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