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Oct 07 - 06:55 AM

USD/JPY - Blue Wave Odds Help USD/JPY To Big Sell Orders Above 106.00

By Richard Pace  —  Oct 07 - 05:20 AM
  • USD/JPY buyers looking through Trump calling a halt to US stimulus

  • Better odds of U.S Democratic sweep and stimulus now focus nL1N2GY06Z

  • Fixed income markets bear steepening, lifting real yields, support USD/JPY

  • widely touted sell orders above 106.00 can limit gains (106.08 EBS so far)

  • Resistance cloud top, 76.4% Fibo 106.94-104.00 at 106.18/25 nL1N2GY05Q

  • Close above can target bigger resistance/offers ahead of 100-dma 106.54

  • FX options show no panic to protect topside - they're still downside wary



JPY=EBS Click here

Source:
Refinitiv IFR Research/Market Commentary

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