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Jun 28 - 03:48 PM
USD/JPY - Indecision Ahead Of Key G20 Meeting
First appeared on eFXplus on Jun 28 - 01:35 PM
  • Pair holds above the 200-hour MA in NY trade, erodes Asia losses
  • US$ lifts despite muted inflation nLNSSHEF67 & dismal Chi PMI USCPMI=ECI
  • USD/JPY nears 107.90 late in the day, leave pair near flat for the session
  • Long legged daily doji forms, suggests some indecision into the G20
  • US-Sino trade in focus, investors look to see if any progress is made
  • If trade tensions ease JPY likely weakens as risk sentiment should shift up
  • Key crosses EUR/JPY & AUD/JPY should rally, USD/JPY could clear the 21-DMA

chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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