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Oct 21 - 05:55 PM

USD/JPY's Sharp Bolli Band Break Threatens More Losses

By Randolph Donney  —  Oct 21 - 04:00 PM
  • USD/JPY biggest percent drop since August flashes Bolli band sell signal

  • Prices closing well below lower 21-day Bolli, last at 104.90

  • Dive to 104.435 on EBS forced 21-day Bolli spreads to finally widen

  • The spreads were their tightest since 2014 on Tuesday, overdue for new trend

  • Vol expansion from tights is often a prelude to a meaningful move in prices

  • Pattern is similar to Sep. 14 and July 23 breakdowns w Bolli spread widening

  • Those sell signals produced 104.195 and 104.00 trend lows

  • September's 104 low is now in play again

    For more click on FXBUZ

Chart Click here

Source:
Refinitiv IFR Research/Market Commentary

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