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Jul 21 - 06:55 AM

USD/JPY - Breaks Above 110.00 As Bulls Try To Take Control

By Martin Miller  —  Jul 21 - 04:38 AM
  • Talk Japanese mega bank bought USD/JPY solidly in Asia

  • Spot has seen a 109.80-110.18 range on Wednesday according EBS data

  • USD/JPY "bear trap" gives bulls hope nL1N2OX0BW

  • Big short term USD/JPY option magnet, but downside risks simmer

  • $1-billion FX option expiries 110.00-15 help contain Wed nL1N2OX0IV

  • USD/JPY and EUR/JPY positive relationship strong, 30-day correlation +0.55

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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