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USD/JPY Aims Lower For 96.55

USD/JPY Aims Lower For 96.55

USD/JPY aims lower for 96.55 and 95.80 through month-end

  • A Monday bull gap higher, but subsequently closed, to maintain negative pressures from notable probe below the 200-day MA last week, although again avoiding a closing violation.
  • This has reinforced bigger picture negative pressures from the early Oct reversal of the trend line from June and bearish outside pattern back from 99.10.
  • We see a still bearish theme through month-end to aim through the Oct low at 96.55 and target the 95.80 August low into Nov, which should provide solid support.

WHAT CHANGES THIS?

  • Only above 98.50 eases bear risks; 99.10 signals a neutral tone; through 99.65 needed for bull pressures.

Please see latest audio-visual analysis here:

Daily

USD/JPY” title=”Daily USD/JPY” height=”478″ width=”623″>

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