TipTVFinance

USD/JPY – Retreat to 100.00 likely

FX:USDJPY   U.S. Dollar / Japanese Yen
Despite the rebound from 100.08 levels (Sep 27 low), the subsequent failure near 101.80 on Thursday and in the Asian session today followed by a retreat to 101.00 levels amid downward sloping 50-DMA             suggests the spot is likely to breach 100.71 (50% of 2011 low – 2015 high) levels and head towards 100.00 levels.

On the higher side, only a daily close above 102.78 (Sep 21 high) would signal bearish invalidation.
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