USD/JPY chart - Trading View
USD/JPY slumps over 0.50% on the day as the greenback remains offered amid rising hopes of U.S. stimulus deal.
Hopes for a pre-election US stimulus package revived after the
US President Donald Trump's comments that he was willing to accept a larger aid bill despite opposition from his own Republican Party stoked hopes for a pre-election stimulus package.
With no major US economic data due for release on the day, broader market risk sentiment will be sole driver for price action.
Intense selling pressure continued through the European session and technical studies show scope for more weakness.
Price action was rejected at 55-EMA, momentum has turned bearish. RSI is well below 50 and biased lower.
Immediate support lies at 104.35. Break below will see dip till 104. Cloud breakout on the flipside could change near-term dynamics.
