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USD/JPY likely to test 118.85

  • Pair seen sub 119.00 and test of 118.85 - 100 DMA expected

  • Test of 118.85 100-DMA maybe only a matter of time, not below since Aug 8

  • Bailing JPY long position vs AUD, NZD

  • Selling pressure in AUD/JPY and NZD/JPY amongst the hardest hit

  • EUR/JPY hit hard, off from 131.10 to 130.59

  • USDJPY sub118.85 suggests move into 118.19-73 as per Ichimoku cloud.

 

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