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Feb 10 - 08:36 PM

USD/JPY - Trapped Between The Strong USD And Subdued Risk

By Andrew M Spencer  —  Feb 10 - 07:00 PM
  • Flat on another Japanese bank holiday - closed little changed - inside day

  • Wall Street hit new highs, risk off on the corona virus in other markets

  • IMF warns coronavirus to hit Japan's economy via tourism, trade nL4N2A906B

  • Intraday moves likely modest and led by risk, unless there is major news

  • Horizontal Tenkan & Kijun lines do not suggest a trending market

  • NY 109.64 low and 110.00 500M strikes are initial support-resistance

  • USD is trending higher, providing underlying support

























jpy feb 11 Click here

Source:
Refinitiv IFR Research/Market Commentary

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