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Sep 22 - 01:55 PM

USD/JPY - Dip Buyers Emerge, May Reign In The End

By Christopher Romano  —  Sep 22 - 11:40 AM
  • BOJ intervention drives USD/JPY sharply lower, 140.31 hit on EBS

  • Dip buyers emerge near that low which is ahead of 139.85/140.25 support

  • Daily technicals warn longs that a deeper correction is possible

  • RSI diverged on the new high, a bear engulfing candle has formed

  • Monthly tech are bullish though, RSI is rising and not diverging

  • Fed hike path extends US rate gains EDH3US10YT=RRUS2YT=RR

  • Bull US interest rate complex should help to limit US$ selling

  • USD/JPY corrections lower likely to be limited, up trend should resume

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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