JPY Moves Look Unsustainable - Mizuho

0829 GMT [Dow Jones] The JPY has fallen to its lowest level against the USD since late August, and late October against AUD, CAD, KRW and IDR following ill-conceived comments from Japan's new finance minister Kan, says Mizuho Corporate Bank's Nicole Elliott. The JPY is now oversold, the USD overbought, and so the move looks unsustainable, especially as bullish momentum is half what it was at the start of the week. Elliott says watch for signs of turning Friday. In USD/JPY she favors small shorts at 93.40, with a stop above 94.00 to target 91.25, and then 90.00. USD/JPY now trades at 93.17, from a high of 93.78. (GST)

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