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Aug 18 - 09:55 PM

USD/JPY - Drifts Higher After Fri Slide, Dovish Fed Comments Cap

By Krishna K  —  Aug 18 - 07:40 PM
  • USD/JPY +0.3% in Asia, regains some ground after closing 1.1% lower Fri

  • Upside likely limited as Fed officials prepare markets for Sep rate cut

  • Powell may signal that Fed easing is imminent at Aug 23 Jackson Hole speech

  • Japan July inflation data on Fri key, may show inflation likely picked up

  • Will support another near BOJ rate hike as Japan's economy rebounds strongly

  • CFTC data shows that speculators now 'long' JPY, 1st time since March 2021

  • Japan parliament to hold Aug 23 special session on BOJ rate hike -sources

  • Japanese flows and yen show markets recovering from BOJ scare

  • Support 147.50-60, 147.00-10, resistance 148.50, 148.30-40, 148.90-149.00

  • Friday range 149.32-147.58; Monday Asia range 147.59-148.00

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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