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Apr 26 - 07:55 AM

USD/JPY - Propped By Equity Recovery And Technical Support

By Martin Miller  —  Apr 26 - 06:10 AM
  • USD/JPY slipped from 128.23 to 127.35 Tuesday on EBS, before recovery moves

  • Japanese shares track Wall Street gains nL3N2WO19M, limits USD/JPY's fall

  • In times of risk appetite, funds usually flow out of the safe-haven yen

  • Daily chart bullish as key support limits USD/JPY's downside nL2N2WO0FI

  • Japan Fin Min denies reports of talks with U.S. on intervention nL2N2WO02T

  • Direct USD/JPY intervention unlikely, expect big gains nL2N2WO0JQ

  • USD/JPY's 30/60-day log correlations with EUR/JPY remains above +0.50

  • The two currency pairs close in the same direction more often than not

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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