USD/JPY: Trump lead sends stocks off a cliff

Currently, USD/JPY is trading at 104.31, down -0.49% on the day, having posted a daily high at 105.13 and low at 104.22.

USD/JPY remains oscillating at the lows after a Trump lead sell-off that has softened the dollar while Wall Street prefers the status quo and a Clinton victory. Stocks have also sold off heavily with the S&P 500 down to 2107 the low in risk-off markets. The polls show that Trump leads Clinton by one point in a poll conducted by ABC News/Washington Post, showing 45% of likely voters support Trump in the latest results, with 45% for Clinton.

BoJ:pushing 2% target out - Scotiabank

"As widely expected, the Bank of Japan left policy on hold (7-2 vote).  As had been tipped, the BOJ pushed out when it anticipates reaching its inflation target to around FY18 from somewhere in FY17.  The BOJ's message was still downbeat, recognizing the risks to growth and inflation were on the downside, and that recent price developments were of concern.  The BOJ has not closed the door to additional measures.  Separately, its manufacturing PMI was trimmed to 51.4 from the 51.7 flash and 50.4 in September.  It is still the highest since January.  "

USD/JPY levels

Current price is 104.30, with resistance ahead at 104.41 (Daily Classic S1), 104.42 (Yesterday's Low), 104.48 (Hourly 200 SMA), 104.66 (Weekly Classic PP) and 104.79 (Hourly 20 EMA). Next support to the downside can be found at 104.22 (Weekly Low), 104.22 (Daily Low), 104.00 (Daily Classic S2), 103.84 (Daily 20 SMA) and 103.77 (Weekly Classic S1).