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Jul 24 - 08:55 PM

USD/JPY - Attempts To Recover After Friday's Sharp Decline

By Krishna K  —  Jul 24 - 06:35 PM
  • USD/JPY drifts higher in early Asia after closing 0.95% lower Friday

  • Traders cautious after overnight drop from 137.95 high to 135.57 low

  • Decline triggered by risk aversion & heightened fears of a global recession

  • Sliding U.S. yields weigh; 10- year yield drops to a 8-week low nL1N2Z32AL

  • Business activity in U.S., Euro zone & Britain contract in July nL1N2Z31AP

  • Japan govt expected to sharply cut forecast for domestic growth nL1N2Z30BV

  • Fed rate decision Wed, traders brace for likely second straight 75 bps hike

  • Mon range traded 136.12-136.29; support 135.50-60, resistance 136.50, 136.80

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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