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Dec 29 - 06:55 AM

USD/JPY - Expect A Big USD/JPY Setback Into The Year-End

By Martin Miller  —  Dec 29 - 03:50 AM
  • Dollar adrift as optimism over China reopening turns to caution nL1N33J08C

  • Japan's Nikkei pressured by Wall Street weakness nL4N33J0UU

  • USD/JPY peaked at 134.50 on Wednesday, sees a setback on Thursday

  • Thursday sees a 134.40 to 133.48 setback, according to EBS price data

  • 14-day momentum remains negative, reinforcing the underlying bearish outlook

  • EUR/JPY's correlation with USD/JPY high, 30/60-day logs are well above +0.5

  • BOJ conducted emergency bond buying on Thursday nL4N33J08I

Source:
Refinitiv IFR Research/Market Commentary

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