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Dec 23 - 04:55 AM

USD/JPY - Set To Struggle As Momentum Fades

By Peter Stoneham  —  Dec 23 - 03:15 AM
  • Charts showing bearish divergence on momentum readings

  • Short-covering and position adjustments within a thin holiday mkt

  • Mkt will continue to debate Boj intentions: could limit direction

  • Recent JGB band tweak to improve market functioning

  • Yen likely to draw support from policy surprise through the turn

  • USD/JPY levels: 130.58 Dec. 20 low and 133.62 Dec. 2 low

  • 10-day MA crossed below 200-day MA and 21-day MA also set to cross below

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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