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Feb 06 - 05:55 AM

USD/JPY - Could Target Buy Stops Likely Clustered Above 149.00

By Martin Miller  —  Feb 06 - 03:45 AM
  • USD/JPY has seen a 148.37-148.70 range, on Tuesday, EBS data shows

  • Japanese importer demand on dips, exporters from ahead of 149.00

  • There is talk of vulnerable buy stops clustered above 149.00

  • USD/JPY could well soar to retest 149.17 Fibo supply nL1N3ER0KW

  • Scope for 149.17 Fibo, a 76.4% retrace of (Nov-Dec) 151.92-140.27 (EBS) drop

  • 30/60-day correlations between USD/JPY and EUR/JPY are both above +0.70

  • USD/JPY and EUR/JPY markets are moving in tandem with each other

Source:
Refinitiv IFR Research/Market Commentary

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