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Thomson Reuters
Sep 12 - 03:48 PM
USD/JPY - Falters At Aug-Sept Downtrend, PPI, Beige Book No Help
First appeared on eFXplus on Sep 12 - 02:25 PM
  • USD/JPY ran into the down TL across Aug-Sept highs at 111.65
  • Another false Cloud b/o & failure below key 61.8% at 111.88
  • PPI missed, Beige Book showed increased business concern re tariffs
  • Labor still very tight, but possible deceleration in price pressure
  • Little reaction to BB, pair had already dropped 111.65-11 (EBS)
  • Slight bounce on talks US to propose new trade talks w China (WSJ)
  • Bulls need 111.88+ close. Bears need sub-100-DMA (110.60) close
  • US CPI and retail sales the next key data risk

Chart: Click here

Source:
Thomson Reuters IFR Markets

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