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Dec 20 - 02:55 AM

USD/JPY - Japanese Authorities Try To Put A Lid On USD/JPY's Rapid Rise

By Martin Miller  —  Dec 20 - 02:10 AM
  • USD/JPY rallied as Fed/BOJ decisions reinforced the uptrend nL1N3NK0AB

  • Spot jumped from Thursday's 154.45 low, to peak at 157.93 on Friday

  • That rise has led to verbal intervention by the Japanese authorities

  • Fin Min Kato: government 'alarmed' by recent forex moves nL1N3NL014

  • Thursday's close above 156.68 Fibo, 76.4% of the 161.96-139.58 drop, bullish

  • But trading circa 30-day upper bollinger-band, 157.55, suggests overbought

  • However as the bollinger-bands are diverging, highlighting volatility risk

  • Euro usually climbs against the yen in December nL2N3N50BM

Source:
London Stock Exchange Group | Thomson Reuters

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