100.00 levels is a line in the sand for many..while a significant majority feels it is the Brexit day low of 98.787.
Presidential debate to trigger further sell-off?
Firth of the three presidential debates is due today (US hours). It is widely believed the markets do not like Trump. If so then the Trump lead in polls/ victory in debate should rock the financial markets and push USD/JPY below 100.00.
Just how important is 100 level?
Since June 24, the pair has seen a day end close below 100.00 levels just once – on Aug 18. On six occasions we have printed intraday lows below 100.00. So for me, 100.00 is truly a line in the sand and could end up triggering an avalanche of selling if breached. Stay tuned…