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Nov 06 - 04:55 PM

USD/JPY - Pondering A Retest Of The 101.18 Pandemic Lows

By Randolph Donney  —  Nov 06 - 02:50 PM
  • USD/JPY's key 104 support break hit 103.18 on EBS today

  • There isn't much support between 103.10 and March's 101.18 low

  • Weakest weekly close, 1st weekly close sub-200-MMA since '16 nL1N2HS1ON

  • U.S. jobs data beat lifted Tsy yields, slowed USD/JPY fall

  • But USD/JPY is going with the broader dollar downtrend flow for now

  • And the dollar index is flirting w major, L-T sell signals nL1N2HS1KV

  • N225 at 29-yr high not showing concern about yen strength yet nL1N2HS0F0

  • Some 103 expiries next week, but also as low as 101 on Friday

  • Daily RSI by 23 is the lowest since March, but no base or divergence yet

    For more click on FXBUZ

Chart Click here

Refinitiv IFR Research/Market Commentary


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