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Aug 09 - 09:55 PM

USD/JPY - 105.30-106.50 Range To Hold Until Tokyo Return

By Andrew M Spencer  —  Aug 09 - 08:15 PM
  • Touch softer after Friday's 0.36% bounce, as USD strengthened on US payrolls

  • Japan fails to lift auto tariffs early in UK trade deal nL1N2FB00Y

  • Tokyo and Singapore holidays suggest consolidation in the Asian session

  • Techs; horizontal Tenkan and Kijun lines support short term range trading

  • 106.35, 38.2% of June-July fall and last week's 106.47 high key resistance

  • Last week's 105.30 low and 105.33 Tenkan line is initial significant support

  • Fading the 105.30/106.50 range with tight stops should provide value

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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