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Thomson Reuters
Oct 10 - 03:48 PM
USD/JPY - Global Derisking Darkens USD/JPY Outlook, CPI Risk Flipped
First appeared on eFXplus on Oct 10 - 02:35 PM
  • USD/JPY sinks amid broad, DM-heavy financial markets sell-off
  • Repatriation flows into funding yen & USD dip break key USD/JPY props
  • 21-DMA & 38.2% of Aug-Oct rise @112.91/72 broken, kijun next @112.46
  • Some worry a broader USD retreat possible as WH eyes ccy manipulators
  • 55- and 100-DMA, last at 111.80/23, targets on a sub-112.50 close
  • Uptrend sidelined until Tsy yields seen attractive, not risk-off
  • As such, a high US CPI may not be USD/JPY bullish & vice versa

Chart: Click here

Source:
Thomson Reuters IFR Markets

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