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Dec 29 - 03:55 PM

USD/JPY - Recovery Rejected By Key Techs, Stocks Slip Slows Dollar Drop

By Randolph Donney  —  Dec 29 - 01:53 PM
  • USD/JPY capped Monday by pivot point, 38.2% on Nov-Dec drop at 103.91/95

  • 103.90 also 200-mo moving average; monthly close below could target 100

  • Bears in control with weekly closes below the 10-WMA, last at 103.93

  • Today's 103.81 EBS high capped by 103.82 kijun briefly breached Monday

  • Support is at Monday's low and the tenkan at 103.405/3.39

  • Broad dollar downtrend amid low discount rate reflation trading weighs

  • Stocks shed early gains amid rebalancing, fiscal angst nL1N2J916X

  • N225 surged 2.66% to its highest since August 1990, BOJ, Fed et al prop

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Source:
Refinitiv IFR Research/Market Commentary

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