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Dec 28 - 11:55 PM

USD/JPY - Steady As Year End Approaches, Soft Stocks Cap

By Andrew M Spencer  —  Dec 28 - 10:16 PM

  • Flat in a very tight 114.75-114.87 range, as 2021 enters the last stretch

  • Soft regional stocks, Nikkei -0.95 and AsiaxJP -0.3% - E-mini S&P steady

  • Stock moves led by year end position trimming rather than soured sentiment

  • Charts; positive daily signals as 5, 10 & 21 day moving averages climb

  • Recent move higher targets a test of the 115.52 November and 2021 high

  • Rising daily cloud supported in December, but cloud top falls into January

  • Falling cloud has the potential to cap USD/JPY - 115.52 should cap

  • NY 114.71-114.89 range is initial support and resistance

For more click on FXBUZ


jpy 2 dec 29 Click here

Source:
Refinitiv IFR Research/Market Commentary

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