FxWirePro: USD/JPY close below the 21-DMA undercuts uptrend
USD/JPY broke below 21 DMA in yesterday's trade, falling to as low as 122.30. The pair ran through fresh bids near the mid-point of the 122 handle at Tokyo start. Recovery extended to 122.85, but selling pressure weighed…
USD/JPY broke below 21 DMA in yesterday's trade, falling to as low as 122.30. The pair ran through fresh bids near the mid-point of the 122 handle at Tokyo start.
Recovery extended to 122.85, but selling pressure weighed, bringing the pair lower. USD/JPY is now attempting a tepid bounce towards hourly 10-SMA located at 122.69.
USD/JPY gently bid, pre-weekend. Gotobi, Japanese importer settlement demand also falls on a Saturday
Close above 21 DMA at 122.90 could see further gains. Flat daily Ichi Tenkan at 122.97 likely near-term pivot.
Immediate resistance is now located at 122.78 (10 DMA) and further ahead at 122.90 21 DMA.
A December U.S. rate hike seems almost certain, barring any shocks in today's nonfarm payrolls report
