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May 05 - 10:55 PM

USD/JPY - U.S. Dollar Demand Takes The JPY Crosses Higher

By Andrew M Spencer  —  May 05 - 09:50 PM
  • 0.4% higher on USD demand as Tokyo return from the three day break

  • Other major currencies are little changed, so JPY crosses are higher

  • EUR/JPY +0.3%, GBP/JPY +0.35% and AUD/JPY up just 0.1%

  • Techs - 5, 10 & 21 daily, weekly and monthly moving averages rise

  • Rising Kijun line adds to the strong bullish trending setup

  • Close below 126.45 Kijun line needed to end the topside bias

  • 131.25 April 2022 top initial resistance then 135.20 2002 peak

  • Tokyo 130.10 low then NY afternoon 129.99 base first supports

    For more click on FXBUZ

jpy 2 May 6 Click here

Source:
Refinitiv IFR Research/Market Commentary

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