• Yen is headed for a fourth weekly drop in a row

• Overall bias remains on the upside as USD/JPY usually climbs in October

• USD/JPY has seen a 157.77-158.42 range, on Friday, according to EBS data

• The 14-day momentum reading is positive, highlighting the bullish bias, 160 a target

• However the daily cloud, that currently spans the 157.94-159.60 region, weighs near-term

• USD/JPY and EUR/JPY tend to move in tandem, log correlations are high above +0.5

Daily Chart


Correlation Chart

(Martin Miller is a Reuters market analyst. The views expressed are his own)