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Jul 27 - 04:55 PM

USD/JPY - Fall Caught By Key Fibo Above 105, But Trend Remains Down

By Randolph Donney  —  Jul 27 - 03:10 PM
  • 105.115 EBS low a minor breach of key 61.8% Fibo and March 16 low

  • The 61.8% of March's post-pandemic plunge rebound is at 105.20

  • March 16 low at 105.15 and 105 figure key on-close nL2N2EY0RG

  • A close below 105 would eye ABC off March-April highs & 2019 low @104.12/10

  • May-June low by 106, tenkan and kijun potential fade points on rebound

  • 10-yr Tsy-JGB yield spreads back down by 30-yr lows from April

  • 1-month vols on the rise, r/r tanking, but options mkt short gamma below

  • Dollar under duress re pandemic handling, Fed's low-for-longer, China angst

  • EUR/JPY eying pandemic highs again, AUD/JPY holding up TL so far

For more click on FXBUZ


Chart Click here

Source:
Refinitiv IFR Research/Market Commentary

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