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Oct 24 - 02:55 AM

USD/JPY - Has Room To Fall Before A Solid Floor Appears

By Ewen Chew  —  Oct 24 - 01:35 AM
  • USD/JPY recoils 0.3% to 152.25 but has room to fall

  • 200 DMA at 151.40 is a key technical base to watch

  • But just below that, near 151.00, is a harder chart floor

  • 100 DMA, 50% retracement, Ichimoku cloud converge there

  • Pullback to somewhere near that level might cue a bounce

  • USD/JPY fundamentals, political risks favour longs

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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