By eFXdata — Apr 07 - 11:30 AM
Citi discusses USD/JPY technical outlook and sees a scope for a move lower in the near-term.
"CitiFX Technicals flags that USD/JPY traded below a pivotal support range at 109.85-109.94 and also completed a triple negative momentum divergence at the trend high.
A move to the downside appears more likely from here, and the team sights a target range adjacent to 108.16-108.34. Beyond that, strong support appears at 106.92-107.05," Citi notes.
Citi Research/Market Commentary