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Thomson Reuters
May 17 - 08:36 PM
USD/JPY - Fraction Firmer - Potential US/China Deal Story
First appeared on eFXplus on May 17 - 06:20 PM
  • China said to offer $200bln trade deficit reduction
  • Few details, modest response - viable deal potential strong USD positive
  • Opened +0.3% with slightly firmer USD & UST yields; CPI leads data poll 0.8%
  • Tenkan & Kijun lines, 5, 10 & 20 DMAs head north - trending setup
  • 110.84, 61.8% Nov/Mar fall caps - break to target 111.96 weekly cloud base
  • NY afternoon 110.63 low then 110.18 200 DMA initial support

Source:
Thomson Reuters IFR Markets

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