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Oct 21 - 04:55 PM

USD/JPY - Trampled By Exodus From Dollar Index, Steadying Near 104.50

By Randolph Donney  —  Oct 21 - 02:35 PM
  • The dollar index's overnight breakdown sent USD/JPY sharply lower

  • Prior October lows near 105 broken, with 104.345 the EBS low since

  • Pair oversold intraday and steadying near 76.4% Fibo @104.50 nL1N2HC0ZE

  • The $2 bln of 104.50 expiries on Friday might also cushion the fall

  • Sep's 104 low and 100% Fibo off 106.11-5.04 drop at 103.97 are next props

  • A close well below the lower 21-day Bolli, last at 104.89, is bearish

  • And 21-day Bolli bands are widening from Tuesday's tightest since 2014

  • Fear of more negative Tsy-JGB real yield spreads off relief bill, Fed policy

  • Relief bill, whenever, seen dimming demand dollar as a haven, upping sales

    For more click on FXBUZ


Chart Click here

Source:
Refinitiv IFR Research/Market Commentary

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