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Thomson Reuters
Oct 12 - 03:48 PM
USD/JPY - Digests Worst Week Since February, Derisking Depth
First appeared on eFXplus on Oct 12 - 02:10 PM
  • USD/JPY fairly flat above Thur & October's 111.83 low at 55-DMA
  • Bounce in US stocks, EMs & industrial commodities supportive
  • Prices straddling weekly on-close pivot point at 112.27
  • Last weekly pivot pt sale in Nov '17 a huge sell
  • VIX retreats but still elevated, US-China trade talks fraught
  • Renewed CNY weakness amid US complaints on ccys also eyed
  • Big topside rejection in EUR/JPY to end the week bares watching
  • Mid-October has been a strong seasonal buy, so Monday may be key

Chart: Click here

Chart: Click here

Chart: Click here

Source:
Thomson Reuters IFR Markets

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