USDJPY top and bear bias intact
· A low level digestion to end the week after the continued correction lower from the new secular high set in early October (at 110.09), to maintain negative pressures from the violation of the trend line from August and the 108.01 swing low that signalled a Double Top.
· This favours a still more bearish for further downside correction into mid-October.
· We still see risk lower into this week to chart/ retrace targets at 106.81 and maybe 106.05/ 105.80 through mid-month.
WHAT CHANGES THIS?
· Above 108.75 eases bear risks; through 109.23 signals a neutral tone, only shifting positive above 110.09 to aim higher for 110.57.
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4 hour USDJPY Chart