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Oct 26 - 08:55 PM

USD/JPY - Risk And Nikkei To Lead - Charts Are Negative

By Andrew M Spencer  —  Oct 26 - 07:05 PM
  • Flat after closing up 0.1% for a third higher daily high

  • No data or significant BoJ activity, so the Nikkei will likely be key

  • 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

  • 104.79 early London low then Asia's 104.65 base are initial supports

  • Momentum studies 5, 10 & 21 daily moving averages track south

  • Bearish setup targets another test of the 104.34 October low


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jpy oct 27 Click here

Source:
Refinitiv IFR Research/Market Commentary

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