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Apr 16 - 06:55 AM

USD/JPY - FX Traders Exiting USD/JPY All Week Has Limited The Upside

By Martin Miller  —  Apr 16 - 04:39 AM
  • USD/JPY rose from 108.61 to 108.96 on Friday, according to EBS prices

  • However, plenty of offers circa 109.00 should continue to limited the upside

  • In fact EBS flow data shows traders have sold USD/JPY all of this week

  • Wed, Thur close under key 108.99 Fibo is very bearish nL1N2M90CO

  • 108.99 Fibo is 23.6% of the 102.60 to 110.97 (January to March) EBS rise

  • USD/JPY, EUR/JPY 30-day log correlation remains under +0.5

EBS Flow Data Chart: Click here

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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