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Jan 03 - 12:12 AM
USD/JPY - Lower, But Thin - Cloud Break If Sustained Significant
First appeared on eFXplus on Jan 02 - 10:05 PM
  • Off 0.5%, as risk sold on a US air strike on Iraq nL8N2973J9

  • E-mini S&P -0.7%, as Middle East tension escalates in thin markets

  • Response maybe overdone - appears to be a continuation, not fresh initiative

  • 108.07/10 pivotal support, 50% of the Oct/Dec rise and cloud base broken

  • Close below would be a strong negative signal for Tokyo's return next week

  • 107.89, November low then 107.22, 61.8% October-December rise next stop

  • Earlier 108.63 high then 108.87 cloud top initial resistance

y3 jan 3 Click here

Source:
Refinitiv IFR Research/Market Commentary

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