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Aug 04 - 03:55 PM

USD/JPY - Rebound Losing Steam With Treasury-Note Yield Near Record Low

By Randolph Donney  —  Aug 04 - 02:20 PM
  • USD/JPY's 106.195 EBS high is by kijun, below Monday's high

  • Friday-Monday short squeeze reset oversold RSIs, cleared late shorts

  • The 104.195 bottom held short, medium & long-term tech supports

  • Pair bought above 104 since 2018, save for March's panic 101.18 low

  • 10-yr Treasury yield at lowest since March 9's record low

  • 10-yr Treasury-JGB yield spreads at 50bp, near 40-yr low at 42bp

  • Big USD/JPY moves ltd before key U.S. data Wed-Fri nL1N2F60QQ

  • Dollar's Fed-burnish risk funding status a drag on USD/JPY nL1N2F6131

  • Bearish while below mid-July range lows in 106.60s where breakdown began

  • For more click on FXBUZ

Chart Click here

Source:
Refinitiv IFR Research/Market Commentary

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