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Nov 18 - 02:36 PM
USD/JPY - Facing Trade Deal And Possible Fed Headwinds
First appeared on eFXplus on Nov 18 - 01:20 PM
  • USD/JPY and crosses knocked down by trade deal doubts nL2N27Y07U

  • In a 109.07-8.51 range & flirting with a sub-kijun (108.69) close

  • November pullbacks so far unable to close below the kijun line

  • Rare Trump-Powell-Mnuchin meeting at WH raises eyebrows nL2N27Y0HM

  • Trump talking rate cuts, negative rates, too strong Dollar

  • Powell sticking to data-dependent drive to meet Fed mandates

  • Fed and USD/JPY longs may need more insurance nL2N27Y0HZ

  • Large options expiries at 107.95-8.50 guard recent 108+ IMM spec longs

  • If trade talks fall apart, the 104.46-9.49 will be retraced

Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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