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Dec 28 - 01:55 AM

USD/JPY - Heavy In Asia - December Trend Low Vulnerable

By Andrew M Spencer  —  Dec 27 - 10:15 PM
  • Trades off 0.25%, near the middle of a 141.18-141.71 range in Asia

  • USD/JPY fell despite firmer Treasury yields, 10yr +2bp to 3.802%

  • Japanese industrial production and retail sales data beat forecasts

  • Resilient data increases the chance that the BOJ may end ultra-loose policy

  • Charts show a downside bias as Tenkan and Kijun lines edge lower

  • 5, 10 & 21-day moving averages track south, as momentum studies slip

  • Wednesday's 142.83 high, then the 143.06 Tenkan line are first resistance

  • 140.95 December low is major support, break targets 139.56, 50% of 2023 rise

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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