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Dec 10 - 07:55 AM

USD/JPY - What Goes Up, Must Come Down

By Richard Pace  —  Dec 10 - 05:45 AM
  • USD/JPY high since Dec. 3 at 104.58 Thurs, mild USD gains, Gotobi demand

  • Hits resistance at 104.59 daily cloud base - that falls to 104.45 Fri

  • 55-dma next major resistance 104.78 - talk of sell orders surrounding 105.00

  • Bearish while below falling trendline from March 105.15, 100-dma 105.23

  • Dec/mid Nov lows 103.75-65 support before 6 Nov lows 103.18

  • Option implied volatility lowest in G10 majors - consistent with range trade

  • Options still showing a preference for JPY calls - lower USD/JPY




JPY=EBS Click here

Source:
Refinitiv IFR Research/Market Commentary

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