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Jan 19 - 07:55 PM

USD/JPY - Consolidates Above Pivotal Support; Japan CPI Fri Key

By Krishna K  —  Jan 19 - 05:50 PM
  • USD/JPY settles into 127.50-129.00 range as focus shifts to Japan CPI Friday

  • Pair traded in a 128.87-127.77 range Thursday, closed 0.4% lower at 128.42

  • Gloomy U.S. economic data and recession fears undermine dollar

  • Hawkish tone from Fed officials weighs on risk sentiment, bolsters JPY

  • Japan Dec core CPI tipped at 41-year-high 4.0%, twice BOJ's 2% target

  • BOJ bullishness on wages suggests days of super-low rates are numbered

  • Support 127.75-80,127.50,127.20-30 (pivot); resistance 128.90-129.00, 129.50

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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