- USD/JPY slips below 103.00 handle to hit 4-week lows of 102.55, intraday bias lower.
- Renewed bout of risk aversion coupled with aggressive USD selling weighing on the pair.
- Markets pricing in a potential Trump win now, increased nervousness heading into the US elections scheduled next week.
- Technical studies are heavily bearish, we see scope for further downside.
- The pair has slipped below 100-DMA support at 102.81, and we see 5-DMA on verge of a bearish crossover on 20-DMA.
- Our previous call (http://www.econotimes.com/FxWirePro-USD-JPY-slips-below-104-handle-focus-on-FOMC-decision-378919) has achieved all targets.
Recommendation: Book partial profits, lower trailing stops to 103.65, target 102.55/ 102/ 101.80
