*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
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