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Aug 16 - 04:55 PM

USD/JPY - Risk Reduction Sends Prices Toward August's Lows, Haven Yen Bid Leads

By Randolph Donney  —  Aug 16 - 02:45 PM
  • Haven yen in high demand as pandemic recovery risks weighed nL1N2PN12Z

  • USD/JPY fell below the 76.4% Fibo of Aug's 108.725-110.80 range @109.215

  • Tumbling Treasury-JGB yields spreads and early stocks losses led way

  • Big recovery in U.S. stocks and a Tsy yields bounce not helping much

  • July and May lows at 108.725/8.34 on EBS eyed if U.S. data Tuesday miss

  • Also have Fed Chair Powell in the afternoon as tapering bets tapered

  • Lots of failed breakouts in USD/JPY in July and August, specs bought dips

  • If U.S. consumer sentiment collapse, Empire miss a trend, bears will rule

For more click on FXBUZ


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Source:
Refinitiv IFR Research/Market Commentary

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