USD/JPY Downside Risk To Key Chart Supports: 92.57 And 90.87
- As expected, a push through last week’s low to reinforce the push back below the previously probed 100-day MA and enhance the topping structure and negative outlook through mid-month.
- We now see risk into next week to the key 92.57 April trough, which we would look to try to initially hold.
- Overshoot risk is to another important low from Feb at 90.87.
- Surrender here would then target the 200-day MA, currently 89.15.
- Above 96.55 eases bear risks with a neutral tone needing 99.00/30, only shifting positive above 100.50.