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Oct 09 - 08:55 PM

USD/JPY - Market Wary, Though Yen Strong On The Crosses

By Andrew M Spencer  —  Oct 09 - 06:50 PM

  • Touch firmer early after closing up 0.2%, amid broad base USD strength

  • Yen stronger on the crosses for a third day, EUR/JPY -0.45%, AUD/JPY -0.5%

  • Japan holiday, so tight range trading expected in the Asian session

  • Intervention unlikely unless yen displays broad based weakness nT9N30702H

  • Market cautious of intervention above 145.00 - unlikely unless yen is weak

  • Charts; rising Kijun line, and daily cloud top are positive signals

  • Kijun line held after BoJ intervention, remains pivotal support at 142.97

  • 144.49 Tenkan line, a base last week and 145.90 Sept peak support resistance

  • For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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