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Aug 12 - 07:24 AM
USD/JPY - Could Hit 100 But Expect Japanese Resistance To Grow
First appeared on eFXplus on Aug 12 - 05:20 AM
  • Risk-off and oil down should both underpin Japan's yen
  • Traders long yen but not overly long IMM/FX, just USD 1.2bln
  • USD/JPY shorts grew over 8 billion when USD/JPY last broke towards 100
  • Huge stops below 105.00 barriers in focus but Japan will buy [nL1N225052
  • Lifers buying foreign bonds. Japan post too if USD/JPY near 100 nL3N2261ZV
  • 200/100-MMAs 104.43/103.45. 100.59 is a 50% retr of rise from 75.31 in 2011

USDJPY and jpy bets Click here

USDJPY monthly Click here

Source:
Refinitiv IFR Research/Market Commentary

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