FxWirePro
Short

USD/JPY breaks below 100-DMA, good to sell rallies

FX:USDJPY   U.S. Dollar/Japanese Yen
283 0 4
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.

Good to sell rallies around 102.80/90, SL: 103.55, TP: 102.55/ 102/ 101.80/ 101.20
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