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Nov 20 - 02:36 PM
USD/JPY - Stuck Below TL From Aug On Trade War Woe Flows
First appeared on eFXplus on Nov 20 - 01:10 PM
  • Week's 108.345 low hit in Ldn A.M. on trade war woes nL2N2800M3

  • Dives back toward day's low on report trade deal may not happen in '19

  • Earlier lifted by yields, stocks after S&Ps held 10-DMA prop nL2N2800K9

  • Rebound cleared 108.69 kijun, but not the broken up TL from Aug at 108.78

  • Tenkan, 10-DMA and Nov. 14-15 highs at 108.86 are bigger hurdles

  • Spec longs at risk if Nov's 107.89 low is broken and closed below

  • Huge option expiries 108.00-70 Thursday likely to limit ranges

  • Market far less long gamma into Friday's PMI reports

Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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