More downside for USD/JPY if US stocks keep tumbling
Sumitomo Mitsui analyst is looking for a downside break of 108.35 if US equities fall further.
- Support is coming from the NFP surprise last week which does not support early Fed tapering.
- Sees a 107.50 / 109.50 range ahead
- slide for equities has not yet sparked much FX risk-off sentiment