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Aug 21 - 11:55 PM

USD/JPY - Extends Gains In Tokyo, Stocks Lower And USD Firm

By Andrew M Spencer  —  Aug 21 - 09:45 PM

  • +0.2% early, leading the USD higher in Asia, as risk sours Nikkei -0.6%

  • E-mini S&P -0.5%, Treasury yields are little change from NY close Friday

  • USD strength and yield differentials rather than risk appetite lead JPY

  • Charts: USD/JPY extends gains above the daily cloud, which rises this week

  • Daily momentum studies head higher, which is a positive signal

  • 136.30 daily cloud top is initial significant support

  • 137.26, 76.4% of the July-August fall is under pressure

  • Close above 137.26 would target a test of 139.38 July high

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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