Flows and Orders/FXWW News/Technical Analysis/USD/JPY

USD/JPY: Looks to have topside scope to 99.50

  • The daily chart is still in a sideways pattern with scope for a move towards 99.50 (see chart);
  • Some of the Yen crosses like AUD/JPY and EUR/JPY are nearing technical resistance levels;
  • The market is still reporting some very large long positions amongst professional players but they have been very patient and resiliant;
  • Range trading likely between 98.00/99.50 over coming days.
  1. Morning Sean, so it looks like we have a deal after all! By tomorrow for sure the matter should be settled, And maybe the market will rally for a day or Two, but thats about it I think, after all there was a shut down, and we have not really made any progress, just delayed the whole issue 3 months. Eventually when the numbers for October come out, wont that be exciting (numbers will be so bad), i think the USD will not rally north to much in the short term, there will not be enough momentum, and usd/jpy, 99.3/5, yes, we will make it there, but i dont see a break of 100 right now, and I wouldnt be suprised if we breach 98 early next week if talks start surrounding the truth of the matter that nothing really happened different then in May, other then the fact for 16 days the government was down!

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