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Oct 26 - 11:55 PM

USD/JPY - Soft In Tokyo - Charts Support Fresh October Low's

By Andrew M Spencer  —  Oct 26 - 10:55 PM
  • -0.1% at the base of a 104.70/89 range with the USD broadly a touch softer

  • E-mini S&P +0.15%, which cushioned the Nikkei, which is only off 0.3%

  • Charts, 105.01-04 38.2% of the October fall and Tenkan line first resistance

  • Traded below the falling daily cloud since Oct 9 - cloud base caps at 105.31

  • Monday's 104.65 Asian base then Friday's 104.55 low are initial supports

  • Momentum studies 5, 10 & 21 daily moving averages all head lower

  • Bearish setup targets another test of the 104.34 October low

    For more click on FXBUZ

jpy 2 oct 27 Click here

Source:
Refinitiv IFR Research/Market Commentary

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