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Dec 10 - 05:55 AM

USD/JPY - Steady As FX Traders Await U.S. CPI Data

By Martin Miller  —  Dec 10 - 04:16 AM
  • Asian shares ease as markets await U.S. inflation data nL1N2SV084

  • BOJ seen scaling back pandemic-relief funding support nL1N2SV09K

  • USD/JPY has seen a 113.34-64 range on Friday, according to EBS prices

  • Bulls could be gearing up to assault key 114.38 Fibo nL1N2SU09X

  • 114.38 Fibo is a 61.8% retrace of the 115.52 to 112.54 November drop

  • EUR/JPY's 30-day correlation with USD/JPY above +0.5: 1st time since mid Nov

  • That shows the two currency pairs are beginning to move more in lockstep

USD/JPY and EUR/JPY Correlation Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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