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Dec 20 - 04:55 PM

USD/JPY - Trims Weekly Gain As Data Pressures Dollar

By Robert Fullem  —  Dec 20 - 02:30 PM
  • USD/JPY slides amid a broadly weaker USD after soft Nov. PCE, Fed comments

  • The PCE price index and consumption missed forecasts

  • Fed officials expect 2025 rate cuts if inflation permits

  • Pair hovers near bottom of 155.97-157.93 day's range

  • Pulls back from upper Bollinger, overbought RSI position

  • Crosses are slightly lower even as US shares rise, vols ease

  • Support lies at Nov. 20 high of 155.86 ahead of 154.70-155 pivot zone

  • Resistance at 157.99 May 1 high, seen before BOJ intervention, and 158.445 26 April high

  • Next week includes BOJ minutes, Ueda speech and Tokyo CPI

For more click on FXBUZ

Source:
London Stock Exchange Group | Thomson Reuters

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