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Jan 09 - 04:55 PM

USD/JPY - Down On Lower Fed Hike Pricing, But CPI, Week's Close Are Key For Bears

By Randolph Donney  —  Jan 09 - 02:20 PM

  • USD/JPY modestly expanded Friday's retreat on softer inflation data

  • Monday's 131.31 low on EBS breached Thur's 131.69 low, but close is key

  • Monday's 132.66 high retraced 38.2% of the 134.78-1.31 Fri-Mon drop

  • Focus now is Tokyo CPI Tues and U.S. CPI on Thur nL1N33U1D0

  • Much more mobile Treasury yields still the main USD/JPY driver

  • BoJ unlikely to hike rates, by another 25bp 10-yr yld cap rise eyed in Q2

  • Post CPI, 55-WMA and weekly cloud top at 131.20/129.94 are key on close

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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