USD/JPY drops to 9-month low, EUR/JPY slips while EUR/USD stabilizes
USD/JPY drops to 9-month low, EUR/JPY slips on hawkish BOJ while EUR/USD stabilizes amid depreciating US dollar after US presidential debate.
USD/JPY drops to 9-month low
USD/JPY's fall through its ¥141.70 early August low has taken the cross to levels last traded in January with that month's low at ¥140.26 representing the next downside target.
Immediate resistance is seen at the 5 August low at ¥141.69.
EUR/JPY slips further still
EUR/JPY is seen heading down towards its ¥154.42 early August low. Minor resistance can now be spotted around the 9 January low at ¥157.21.
EUR/USD recovers
EUR/USD managed to level out slightly above its August 5 high at $1.1009 ahead of today's US August consumer price index (CPI) release. Minor resistance can be seen around the 22 August low at $1.1098.
A fall through $1.1009 would likely engage the 21 March high at $1.0942. For now we stick to our neutral medium-term forecast.
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