USD/JPY: 1st Resistance at 100.60/70
Jason Sen | Sep 27, 2016 02:15AM ET
USD/JPY oversold, but bears have no trouble seizing control. Watch last week's low at 100.10/00. A break lower this week targets 9990, 9965/62, perhaps as far as the August low at 9956/53. More importantly we have this year's low at 9912/08.
First resistance at 100.60/70 should be a challenge on any recovery to ease oversold conditions. Above here look for resistance at 101.00/10 & a high for the day certainly possible. If we continue higher look for a selling opportunity at 101.65/75, with stops above 102.00.
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