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Feb 27 - 11:00 PM

USD/JPY - 109.30-40 Support Tested As Risk Mood Takes Beating

By Krishna K  —  Feb 27 - 09:40 PM
  • USD/JPY extends o/night losses in Asia as risk mood reels; Nikkei -3.5%

  • Support at 109.30-40 manages to hold as S&P e-minis bounce an anaemic 0.5%

  • Pull back attempts now capped by 109.65-70, former support turned resistance

  • Soaring Fed rate cut expectations cap; probability of Mar cut now at 96.3%

  • US 10-year note consolidates after posting record low 3 days in a row

  • Japan Jan IP, retail sales top forecasts, won't last, ignored nL3N2AS02G

  • Clear break of 109.30 opens 108.70-75; resistance 109.65-70, 109.90-110.00



Source:
Refinitiv IFR Research/Market Commentary

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