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Jun 06 - 11:55 PM

USD/JPY - Fresh High - Little Reason To Fight The Trend

By Andrew M Spencer  —  Jun 06 - 09:45 PM

  • +0.55% in Asia, touching a fresh 132.75 trend high not seen since April 2002

  • Rising inflation and cost of living is hitting Japan consumers nL1N2XT17N

  • Kuroda to continue holding rates down to force wages higher nT9N2X900X

  • This situation underpins major 2022 yen weakness - no sign of change

  • Techs, break of 131.35 May trend high leaves 5, 10 & 21 DMA tracking north

  • Tenkan and Kijun lines head higher - pivotal support at 129.60/65

  • Tokyo 131.86 low is initial support, then Monday's 130.43 base

  • Blue sky to the next resistance, being 135.20 2002 high

For more click on FXBUZ


jpy 2 jun 7 Click here

Source:
Refinitiv IFR Research/Market Commentary

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