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Nov 12 - 05:55 PM

USD/JPY - Bears Winning The Battle In USD/JPY Ahead Of Trend-Defining Resistance

By Randolph Donney  —  Nov 12 - 03:45 PM
  • USD/JPY bears fading the 103.20-5.68 intra-week EBS rebound

  • Failure to close above the 105.525 cloud top attracts sellers

  • Prices sliding toward Wed's 105.01 lows ahead of the close

  • Week's highs stop shy of down TL from March, 100-DMA at 105.85

  • Decent risk vs reward for shorts ahead of those hurdles

  • Tenkan and 50% of 103.18-5.68 rise at 104.43 possibly in play

  • The 76.4% Fibo and Nov. 6 high at 103.76-77 eyed if 104.43 gives way

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Source:
Refinitiv IFR Research/Market Commentary

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