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Jan 03 - 12:12 PM
USD/JPY - Weak ISM Data Dims USD/JPY Rebound Prospects Amid Risk-Off Flows
First appeared on eFXplus on Jan 03 - 10:20 AM
  • USD/JPY, Treasury yields dip on weakest ISM since 2009 nN9N27Z024

  • Also the weakest manufacturing new orders since April 2009

  • Employment also down to 45.1 from 46.6 despite the trade war truce

  • Ongoing production cuts at Boeing possibly a drag on the data

  • USD/JPY in tight range above 108 and above today's 107.92 low

  • That low held just above October's 107.89 low as Iraq news digested

  • But bias remains to the downside, with 106.47 a main target nL1N2980BG

  • Thur's 108.215 low is 1st resistance. 108.08 Cloud base eyed on close

Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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