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Nov 01 - 07:24 AM
USD/JPY - Sees Biggest Daily Drop Since August As Risk Turns Sour
First appeared on eFXplus on Nov 01 - 05:00 AM
  • Thurs saw the biggest one-day fall since Aug 23, closing down 74 pips

  • BBG U.S.-China headline sent USD/JPY longs over the edge nL2N27G0AA

  • USD/JPY dropped under a key Fibo, exposing another one nL2N27H05Q

  • Closed below 108.14, 23.6% of 104.46-109.28 rise, exposing 107.44 (38.2%)

  • Spot has seen a 107.89-108.06 range, according to prices on the EBS

  • EUR/JPY's correlation with USD/JPY high, 30/60-day logs are +0.69/+0.73

Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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