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Nov 18 - 03:55 PM

USD/JPY - Close Below 104 Puts Nov 6 Support By 103.18 In Focus

By Paul Spirgel  —  Nov 18 - 01:40 PM
  • USD/JPY ending NY -0.3% at 103.85; NorAm range 104.10-103.65

  • Narrowing US-JP rate diff's weigh on USD, Fed seen accommodative in Dec

  • USD eyes trend lows vs yen as pre-vaccine economy helps havens nL1N2I41YD

  • Markets remain torn between 2021 vaccine hopes and interim pandemic fears

  • Sub-61.8% Fib of Nov range eyes lwr 21d Bolli 103.53, Nov 6 low 103.18

  • Significant option int 104.25-50 likely anchors spot Click here

  • Bulls need a rise abv 104.43, 50% Fib of 103.18-1.5.68 to slow bearish tide

  • For more click on FXBUZ

JPY Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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