USD/JPY touched a fresh session low of 108.99.
That forms a bearish outside reversal on the daily chart after the 6-year high of 110.09 earlier today.
USDJPY daily outside reversal
Citi was out with a note earlier comparing a reversal on the first trading day of Q4 to the first trading day of Q1. That move skidded down to the 50% retracement of the recent rally. A similar fall this time would target 105.58.
