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Nov 02 - 09:55 PM

USD/JPY - Opens Softer, Uptrend Still In Play Into US Jobs

By Andrew M Spencer  —  Nov 02 - 07:45 PM
  • Steady after closing down 0.3% with the lower UST yields, USD off 0.5%

  • Tokyo holiday ahead of U.S. payrolls, should produce tight-range trading

  • Focus on E-mini S&P as a gauge of offshore risk appetite, trading -0.15%

  • Charts; 5, 10 & 21 day, week moving averages head higher - uptrend valid

  • Horizontal daily Tenkan and Kijun lines suggest a period of consolidation

  • Traded above the daily Ichimoku cloud since August - key support at 147.97

  • Thursday's 149.84-150.98 range is initial support and resistance

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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