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Feb 07 - 06:55 AM

USD/JPY - Tumbles After Failing To Crack 133.00 On Monday

By Martin Miller  —  Feb 07 - 04:50 AM
  • USD/JPY soared on Monday on BOJ's Amamiya speculation nL1N34M0OC

  • However, it peaked at 132.90 on the EBS, ahead of 133.00 psychological level

  • Spot suffered a setback from Asia 132.71 to hit 131.69 in London, on Tuesday

  • Still likely to break above key 133.05 Fibo once gap filled nL1N34N0K5

  • Gap opened up between Friday's 131.20 high and Monday's 131.52 low

  • EUR/JPY's correlation with USD/JPY high, 30/60-day logs are well above +0.5

Source:
Refinitiv IFR Research/Market Commentary

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