USD/JPY bear's second wind - FXStreet

Ross J Burland FXStreet

Valeria Bednarik, chief analyst at FXStreet explained that the USD/JPY pair recovered up to 100.98 during the past Asian session, as markets experienced some relief following the US Presidential debate, seen as won by Mrs. Clinton by the media.

Key Quotes:

"The good mood, however, was short-lived, with woes surrounding the banking sector putting European equities under strong selling pressure and resulting in the Japanese yen resuming its advance. The pair traded as low as 100.07 at the beginning of the US session, bouncing from the level after the release of better-than-expected US Markit PMI figures for September, but selling interest pushed it back lower, now around 100.30, and overall bearish."

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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