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Oct 17 - 04:55 PM

USD/JPY - Treasury Yields Rebound Keeps Uptrend On Track For Mid-149.00S

By Content Admin  —  Oct 17 - 02:35 PM
  • USD/JPY held in a tight range just below 149 in a risk-on session

  • UK fiscal policy U-turn sent havens like dollar and yen lower

  • Early Tsy yield dip a drag, but yields rebounded with stocks

  • Two-year Tsy yields at 4.46% vs -0.045% for 2-yr JGB yields

  • And BoJ not eying rate hikes, while MoF keeps intervention threat

  • But unless U.S. data change Fed hike plans, USD/JPY uptrend's intact

  • An intervention correction would attract big dip buying near 145

  • TL, A=C wave and 161.8% Fibo targets are at 149.38-52 nL1N31I1DF

  • Overbought market also likely has 150 as target for many longs

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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