USD/JPY reaction to BOJ helps wrongfoot FX traders
Oct 31 -USD/JPY price action could have put longs in a bind and they may be set for more pain in coming sessions if spot loses further altitude.
The Bank of Japan maintained ultra-low interest rates on Thursday but said risks around the U.S. economy were somewhat subsiding, signalling that conditions are falling into place to raise interest rates again. The comments of BOJ's Kazuo Ueda after Thursday's meeting were seen as less dovish than those made before. FX traders have demanded the Japanese yen as a result.
USD/JPY has fallen from 153.62 to 151.92 according to EBS data, potentially wrong-footing bulls in the process. Spot failed for three session in a row to register a daily close above the broken 153.41 Fibo, a 61.8% retrace of the 161.96 to 139.58 (July to September) EBS drop, a likely "bull trap".
A bull trap is set when a market breaks above a tech level but then reverses, and is usually a bearish sign. There is scope for a drop to probe the 200-DMA, which is currently at 151.53, though this level could limit losses in the near-term.
Related comment nL1N3M50I4
For more click on FXBUZ
Daily Chart: https://tmsnrt.rs/4flvquE
Martin Miller is a Reuters market analyst. The views expressed are his own, editing by Ed Osmond
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
