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Oct 14 - 04:55 PM

USD/JPY - Nearing October Lows As Bearish Reversal Builds

By Randolph Donney  —  Oct 14 - 02:35 PM
  • USD/JPY's 105.04 low on EBS probes 50% of 104.00-6.11 recovery at 105.05

  • Low also by the lower 10-day Bolli; 10-day moving average now at 105.58

  • Oct's 106.11 high was rejected by downtrend line from July, August highs

  • Also a rejection by the daily cloud that will resume falling next week

  • 105.51 high capped shy of the tenkan at 105.53, 105.15 kijun key on close

  • October's 104.95 low is last decent support before September's 104 low

  • U.S. election-related risks likely to weigh for now nL1N2H50KZ

    For more click on FXBUZ

Chart Click here

Source:
Refinitiv IFR Research/Market Commentary

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