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Thomson Reuters
Jul 31 - 03:48 PM
USD/JPY - Eyes 2018 Highs On BOJ Retreat, Yields, Risk Rebound
First appeared on eFXplus on Jul 31 - 02:20 PM
  • USD/JPY up on JGB yield fall after BOJ undermines JPY bulls
  • Decent U.S. data and reports US & China talking trade support
  • Rally comes as 55-DMA that caught May & June slides held again
  • Close above daily Tenkan at 111.88 would target 113.18 peak
  • 113.18 is by 200-WMA & 61.8% of 2016-18 drop at 113.27/29
  • ADP, ISM and FOMC key pre-NFPs to yield-driven USD/JPY uptrend
  • Biggest worry for uptrend is recent surge in IMM longs

Chart: Click here

Chart: Click here

Source:
Thomson Reuters IFR Markets

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