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Apr 28 - 11:55 PM

USD/JPY - Drops Briefly On Position Adjustments; Downside Limited

By Krishna K  —  Apr 28 - 10:40 PM
  • USD/JPY down 0.1% in Asia, mild profit-taking dip ahead of w/e pounced on

  • Friday range of 130.95-130.36; liquidity constrained due to Japan holiday

  • Buyers emerge ahead of 130.00, previous psychological resistance now support

  • BOJ commitment to ultra-easy policy will continue to undermine JPY

  • BOJ policy in contrast to Fed which is racing to raise rates nL2N2WQ1VA

  • Choppy week ahead, traders brace for Fed with Japan closed Tuesday-Thursday

  • Break above 130.57, 76.4% Fibo of 1998-2011 USD decline technically bullish

  • Immediate resistance at 131.25 Thursday high; support 130.35-40, 130.00-10

  • For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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