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Apr 10 - 05:55 PM

USD/JPY - Surges On Fed Fears And BoJ Stasis, With CPI Key For Next Breakout

By Randolph Donney  —  Apr 10 - 03:00 PM

  • USD/JPY up 1.1%, with 133.87 high piercing pivotal 133.73 resistance

  • Daily kijun, weekly tenkan & 50% of March drop are at 133.73 on EBS

  • If closed above, the 61.8% Fibo at 134.75 is the next target

  • Post-payrolls Tsy yield rise, early stocks slide fed dollar's gains

  • But BoJ Gov Ueda's caution re policy normalization plans slammed yen

  • Risk-off flows no help to the yen today, just fed haven dollar buys

  • Late rebound in stocks, though, reducing USD demand a bit

  • Prices now above the 100- and 55-DMAs at 133.40/2.92

  • If US CPI is at or above forecast further USD/JPY gains are likely

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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