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Jan 08 - 01:55 PM

USD/JPY - Breaches Friday's Fibo Lows On Dovish NY Fed Survey, 143.12 Next Prop

By Randolph Donney  —  Jan 08 - 11:35 AM
  • USD/JPY hit a new post-NFP low below 38.2% of 140.27-5.98 rise @143.80

  • Sub-143.80 close would eye 50% and 61.8% Fibo's at 143.125/2.45

  • Drop aided by disinflationary NY Fed's consumer inflation survey

  • Tsy ylds from 2- to 10-yrs now down 7-8bp

  • Expected bearish convergence of Fed-BoJ policies the main macro theme

  • Next hard US data is Thur's CPI; core f/c at 3.8% vs 4.0% yr/yr

  • Fri's 145.98 peak hit key Dec. 13 Fed day high, 50% of Nov-Dec dive

  • Primary trend remains down while below 146

  • Tokyo CPI and Japan household spending out Tues, with BoJ on hold

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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