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Apr 12 - 01:55 PM

USD/JPY - Shorts Have The Advantage Ahead Of Key CPI Data

By Christopher Romano  —  Apr 12 - 11:43 AM
  • USD/JPY consolidating drop from March 31 peak between 10- & 30-DMAs

  • Falling daily RSI implies that downside momentum is intact

  • Consolidation should resolve with a break to new trend lows

  • US March CPI risk looms, if above estimate US yields, US$ could rally

  • An above estimate CPI could lead to a sooner than expected Fed hike

  • Downside CPI miss could drive USD/JPY below 108.30/40, test 106.95/107.20

  • For more click on FXBUZ




usd/jpy Click here

Source:
Refinitiv IFR Research/Market Commentary

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