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Nov 23 - 04:55 PM

USD/JPY - Probes Past 115, Highest Since March 2017, More Upside Ahead

By Randolph Donney  —  Nov 23 - 02:07 PM

  • USD/JPY back above 115 after early risk-off dip in London to 114.50

  • Buyers waiting for a dip to buy as Fed talks about faster tapering

  • A June rate hike fully priced in and May hike could be in play

  • A 115+ close would weaken desire to book hefty long profits

  • Specs still well long, but rightly so re rates spreads, BOJ's YCC

  • Major Fibo targets are by Dec 2016's 118.66 peak on EBS nL1N2SE12V

  • 21-day BB spreads begin to widen, indicating uptrend gaining momentum

  • Last week's pullback affirmed the uptrend from September

For more click on FXBUZ


Chart Click here

Source:
Refinitiv IFR Research/Market Commentary

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