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Dec 28 - 07:55 PM

USD/JPY - Recovery Continues As Yield Differentials Widen

By Andrew M Spencer  —  Dec 28 - 06:00 PM

  • Steady - closed +0.75%, leading the USD higher, as yield spreads widened

  • No Japan data today or significant scheduled BOJ, government speeches

  • Six days of higher lows since the BOJ yield curve policy change on Dec 20

  • Despite the BOJ policy change, Fed yield expectations in Q1 2023 support USD

  • Charts; positive momentum studies, 21 day Bollinger bands contract

  • 10 & 21 day moving averages plus Tenkan and Kijun lines fall - mixed signals

  • 130.58 Dec 20 low and 135.23 Kijun line are the pivotal levels

  • 133.42 NY low and 135.23 Kijun line are initial support and resistance

    For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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