FX: USDJPY setting up for bearish week?

*USDJPY sits at 76.4% Fibonacci
*Stochastic momentum points down from overbought levels
*BoJ on hold while The Fed cut

Bearish fundamentals and technicals to lead USDJPY lower...

Some key things that help USDJPY lower over the week: 
  • USDJPY, on the daily, has retraced to 76.4% from mid-August lows
  • Stochastic momentum is turning at ~95 signalling bearish momentum
  • The BoJ is likely to hold while The Fed undergo a 25bps rate cut
  • Saudi's oil supply shock could continue to weigh on risk-off sentiment