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Apr 09 - 06:55 AM

USD/JPY - Could Recover Further As World Stocks Reach Record High

By Martin Miller  —  Apr 09 - 04:56 AM
  • World stocks hit record high, powered by Wall Street nL8N2M21AH

  • In times of risk appetite, funds usually flow out of the safe-haven yen

  • USD/JPY rises as spec shorts close out books, Fri sees 109.21-68 range

  • USD/JPY has found rock solid support just ahead of key 108.99 Fibo

  • 108.99 Fibo, a 23.6% retrace of 102.60 to 110.97 (January to March) EBS rise

  • USD/JPY, EUR/JPY 30-day log correlation remains under +0.5

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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