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Thomson Reuters
Mar 05 - 08:36 PM
USD/JPY - Struggles To Hold Above 112.00 But Downside Limited
First appeared on eFXplus on Mar 05 - 06:25 PM
  • USD/JPY consolidates after failing to sustain break above 112.08 resistance
  • Options related selling above 112.00 caps rally for 3rd consecutive day
  • Pull backs to be limited as upbeat U.S. data, higher U.S. yields support
  • Traders gear up for Fri U.S. jobs, wages data and Fed Chairman Powell speech
  • Clear break above 112.08 opens rally to initial 112.67 target, Dec 19 high
  • Strong support at 111.35-41, daily highs in late Dec and 100-, 200-DMAs

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Source:
Thomson Reuters IFR Markets

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