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USD/JPY - Jobbing the psychological level of 100.00

FX:USDJPY   U.S. Dollar/Japanese Yen
Dollar-Yen pair rose as high as 100.989 levels on the back of Clinton-led risk-on only to deflate back to sub 100.50 levels.

This may be because investors realize Trump has not really had a bad day out there. For example three of the major polls post debate put trump in lead –

CNBC – Clinton 39%, Trump 61%

Wiki Leaks – Clinton 40%, Trump 60%

Time – Clinton 41%, Trump 59%

CNN – Clinton 62%, Trump 27%

Check the video with Christopher Phelps, Associate Professor of American History, University of Nottingham, who says Trump did retain his core voters and draws parallels between the run up to US elections and the run up to Brexit referendum - https://www.youtube.com/watch?v=vLG3_hy7j1s

Jobbing the 100.00 levels in USD/JPY

Once again there are signs the pair nearing 100.00 levels, which has been breached eight times or so on intraday basis since June 24. Meanwhile, there has been only one daily close below 100.00 levels post Brexit.

Hence, jobbers look forward to initiate long trades each time the pair comes around 100.00. However, as Ryan Littlestone of ForexLive says, “More the pair tests 100.00 levels, the higher the probability of an eventual breakdown and a sharp drop to sub-99.00 levels. Hence, while jobbing (Long) USD/JPY             near 100.00 levels, stops should be very tight”.

Check out the video with Ryan Littlestone of ForexLive - https://www.youtube.com/watch?v=cYyt-p_IOwo
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