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Feb 05 - 07:55 PM

USD/JPY - Lower As Early Tokyo Sells; Gap To 131.20 Attracts

By Krishna K  —  Feb 05 - 05:40 PM
  • USD/JPY slides from Asia's 132.60 high to 131.69 on early Tokyo selling

  • Undermined by profit-taking after 3.3% rally from Friday's 128.34 low

  • Asia's 131.20-132.20 opening gap being filled; dip buyers likely to emerge

  • USD had gapped higher on Nikkei report Amamiya sounded out as BOJ governor

  • Amamiya seen more dovish than other contenders; ultra-easy policy may extend

  • "Monster" U.S. jobs report, hawkish Daly had already set stage for USD rally

  • Resistance 132.50-60, 133.00-05; support 131.50-60, 131.20-30

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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