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Oct 30 - 04:55 PM

USD/JPY - King Dollar's Cash Grab, Double-Bottom Vs Yen Delay Downtrend

By Randolph Donney  —  Oct 30 - 02:35 PM
  • Nearly flat on the day after 104.00/02 Sep-Oct double-bottom holds

  • Dollar grabs bulk of haven trades from yen after Asian trading ends

  • Rising Treasury yields a plus in NY as stocks fell back toward lows

  • Pair a bit oversold Thursday, mean reversion up to tenkan eyed nL1N2HL1CA

  • Tenkan and kijun hurdles are at 104.89/5.07 by week's 105.055 EBS high

  • Medium-term downtrend remains intact, onus on bulls below cloud, 55-DMA

  • If 104 is broken, Fibos at 103.66-67 are the next target

    For more click on FXBUZ

Chart Click here

Source:
Refinitiv IFR Research/Market Commentary

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