USDJPY consolidated in a narrow trading range after opening with a huge gap on Monday. The point of concern is, the pair has not come back to cover this gap and it is likely to keep its bearish trend. JPY as a single currency is considered as a safe haven currency and previously the investors were moving their investments from USD to JPY as well as GOLD. But the safe haven appeal for a single currency is diminishing as poll or Clinton are getting stronger. USDJPY soared to place high of 104.620, while it plunged to place the low of 103.797. Overall, the pair added only 52 pips to an opening price of 104.003 on Monday.

Fundamentals:
JPY
• 10-y Bond Auction
• Leading Indicators
USD
• JOLTS Job Openings
• Presidential Election
• Congressional Elections

Technical Levels:
R3: 105.16
R2: 104.82
R1: 104.61
Pivot Point: 104.27
S1: 103.93
S2: 103.72
S3: 103.38

Recommendation:
Good to Buy Above 104.700
SL: 104.450
TP: 105.250

Good to Sell Below 104.250
SL: 104.500
TP: 103.95

USDJPY Chart

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