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Mar 05 - 01:55 AM

USD/JPY - Treads Water Below Key Resistance As Data Surprised

By Andrew M Spencer  —  Mar 04 - 10:15 PM
  • Steady in a tight 150.36-150.54 range, despite significant data misses

  • Inflation in Tokyo jumped in February - most sectors were higher

  • 10yr JGBs moved from the 0.713 close to trade at 0.721 after the Tokyo CPI

  • Japan's services sector beat expectations, led by strong tourism

  • Ministers deny a report that the government may call an end to deflation

  • Charts, Horizontal Tenkan and Kijun lines suggest further consolidation

  • February's 150.89 high has contained USD/JPY for three weeks

  • Break would target a test of the 151.90/00 BOJ intervention level

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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