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Jan 06 - 04:55 PM

USD/JPY - Consolidates Post-Fed Minutes Rates, Risk Moves Pre-Payrolls

By Randolph Donney  —  Jan 06 - 02:38 PM

  • USD/JPY fell back to Wed's 115.625 low on EBS as Fed threat digested

  • Pair supported by Fed tightening plan, higher Treasury yields

  • But haven yen also bought after stocks sank amid higher rates

  • S&Ps and Nasdaq found support by key MAs Thur, reduced yen bid

  • Though 5- and 10-yr Treasury yields also stalled at 200-WMAs pre-NFP

  • USD/JPY working off O/B daily, weekly and monthly RSIs

  • Uptrend from Nov. 30's Omicron angst nadir intact above tenkan & 10-DMA

  • 10-DMA will rise toward the 115.34 tenkan on Friday

  • Large $2 bln of 116 options expiries Friday likely to attract

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Source:
Refinitiv IFR Research/Market Commentary

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