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Jan 19 - 11:55 AM

USD/JPY - Downside Remains Limited Ahead Of BoJ Decision

By Justin Mcqueen  —  Jan 19 - 09:35 AM
  • USD/JPY dips remain supported as 148 holds, following pullback from 148.80

  • Softer Japanese CPI reduces risk of a hawkish BoJ surprise

  • Thus, upside remains favoured in the lead up to the BoJ meeting nL1N3E825M

  • Grind higher in US yields also limits USD/JPY downside potential

  • Risk event includes U. of Michigan sentiment. Eyes on inflation expectations

  • Subtle jawboning from Japanese FinMin raises intervention speculation

  • However, intervention remains unlikely with USD/JPY sub 150

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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