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Oct 21 - 05:55 PM

USD/JPY - Tests Daily Cloud Top Amid Broad Dollar Gains

By Robert Fullem  —  Oct 21 - 01:55 PM
  • USD/JPY tests its daily cloud top at 150.70 amid rising Treasury yields and broad dollar gains

  • Treasury 10-year yields reach the highest level since early August and the dollar index climbs above its 200-DMA after hawkish comments from Dallas Fed's Logan

  • USD/JPY resistance is seen at the 50% 3-month Fibo level and the 100-DMA at 150.77/78 ahead of 200-DMA at 151.34

  • Option expiries Thursday build between 151.00 and the key 152.00 level

  • Repeated commercial and spec interest to sell USD/JPY during Tokyo hours may slow advance

  • Conversion line at 149.41 is support above session low of 149.08

  • Highlights this week include BOJ Governor Kazuo Ueda comments at the IMF/World Bank meeting, Oct. Tokyo CPI and Japan's general election on Sunday

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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