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USD/JPY Biased to Downside as Japan FX Reserves Remain Plentiful

From dailyfx.com

A positive Wall Street session and a weaker US Dollar may boost Asia-Pacific markets today. The Dow Jones Industrial Average rose 1.31%, while the high-beta Nasdaq-100 gained 1.11%. The US midterm election has traders in a rosy mood, given historically positive returns in the months following US voting. Republicans are favored to gain seats, especially in the House. China and its increasing Covid cases may pose a headwind to markets after policymakers push back against rumors that the country may ease its Covid policies, which are among the strictest in the world. The lockdown effects were seen in the October trade ... (full story)

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  • Category: Technical Analysis