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Apr 13 - 01:55 PM

USD/JPY - Could Be One Bad US Data Day Away From Retesting April's Lows

By Randolph Donney  —  Apr 13 - 01:20 PM

  • USD/JPY fell to 132.025 near this week's 131.84 low after PPI & claims

  • The data added to others signaling disinflation, less Fed hike need

  • But the data hasn't been overwhelmingly dovish thus far

  • Most of a 25bp Fed hike is priced in for May before 50bp of cuts by Dec

  • USD/JPY will fall if Fri's retail sales and Mich sentiment are weak

  • Thur's low is also by 61.8% of April's range at 131.94

  • A close below there & Mon's 131.84 low on EBS eyes April's 130.64 low

  • At f/c data Fri would leave prices in limbo before the May 4 Fed meeting

  • But a close below the weekly cloud base at 132.24 would eye 2023's lows

For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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