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Jul 27 - 05:55 AM

USD/JPY's Bias Tilts Bullish As Stocks Rise, Fed Hike Looms

By Martin Miller  —  Jul 27 - 04:25 AM
  • USD/JPY has seen a 136.81-137.15 range on Wednesday, according to EBS data

  • Bulls building after finding support ahead of 135.44 Fibo nL1N2Z80F3

  • Dollar has entered the Federal Reserve storm nL1N2Z70LH

  • Fed: 75 bps is priced in, 13% chance of a 100 bps raise FEDWATCH

  • Strong results boost European shares ahead of Fed meeting nL4N2Z81KV

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

  • EUR/JPY's 30/60-day log correlations with USD/JPY are well above +0.50

  • Two currency pairs close in the same direction more often than not

Source:
Refinitiv IFR Research/Market Commentary

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