Friday, October 16, 2026

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USD/JPY eyes support by Fri low & Tenkan at 124.31-40

Japan bids by 125 have been chewed through; pair eyes TrendLine, Fri low & Tenkan at 124.31-40 200-HMA is 124.67. If 124.30 is broken, Japan bids at 124 will be tested next Much of today's USD/JPY action is an overbought…

By Jay L. Zagorsky
1 min read
EconoTimes — Reading the Times. Understanding the Future.

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  • Japan bids by 125 have been chewed through; pair eyes TrendLine, Fri low & Tenkan at 124.31-40

  • 200-HMA is 124.67. If 124.30 is broken, Japan bids at 124 will be tested next

  • Much of today's USD/JPY action is an overbought bearish divergence correction

  • USD under widespread pressure as NFP-driven longs are being stopped out

  • USD-JPY yield spreads are marginally softer, but broad stocks selling weighs

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