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Jan 09 - 08:55 PM

USD/JPY - 115.50 Key Support, As Risk Appetite And USD Lead

By Andrew M Spencer  —  Jan 09 - 07:05 PM

  • +0.1% after closing off 0.25%, as the USD slid on weak headline U.S payrolls

  • Japanese bank holiday, so no data - U.S. dollar and risk appetite to lead

  • Soft markets, E-mini S&P futures -0.35%, Brent -0.5% - =USD firmer +0.05%

  • Charts; Kijun line, 5, 10 & 21 day moving averages all track higher

  • Momentum studies conflict - overall the setup supports further gains

  • Last week's 116.35 top first resistance - 118.60 2016 top longer term target

  • Sustained 115.52 2021 high break, which is close, needed to undermine trend

  • NY 115.52-115.93 range is initial support and resistance

    For more click on FXBUZ


jpy jan 10 Click here

Source:
Refinitiv IFR Research/Market Commentary

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