Gravestone Doji on USD/JPY, Bearish MACD divergence on FTSE 100 – FuturesTechs

In this segment, Clive Lambert, Director at FuturesTechs provides technical view on major markets. The highlight of this segment is the cautious to bearish view on USD/JPY given the fact that Yen rally is usually accompanied by risk aversion in the broader market. This segment is hosted by Tip TV's Zak Mir.

Key points

Gilts – sellers have made a come back this week following a repeated failure at the key Fibo level of 127.19 on Monday and Friday. Lambert expects prices to revisit 125.30 and 124.55 and ultimately 123.21 levels

Sterling – Held support at 1.2083 yesterday followed by a mild recovery today. “Things aren’t as bad as they seem yesterday afternoon”, says Lambert

USD/JPY – Gravestone Doji marks the Failure at resistance zone of 104.30-104.50, may have seen the highs

Euro Stoxx 50 – 3100 is a strong resistance... given the numerous failures around the said level throughout this year

FTSE 100 – MACD bearish divergence, Momentum indicators pointing lower

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