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Jun 23 - 06:55 AM

USD/JPY - Peter Navarro's China Comment Walk Back Boosts USD/JPY Bulls

By Martin Miller  —  Jun 23 - 04:55 AM
  • A rise in risk appetite usually sees funds flow out of the safe-haven yen

  • Yen sold after WH trade advisor Navarro China comment walk back nL4N2E0119

  • USD/JPY has seen a 106.74-107.22 range so far, according to EBS prices

  • Needs to close above key 107.35 Fibo to shift bias higher nL1N2E00DL

  • Key 107.35 Fibo is a 23.6% retrace of 109.85 to 106.58 June drop

  • EUR/JPY 30/60-day correlations with USD/JPY are strong, readings +0.66/+0.54

Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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