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Oct 28 - 04:55 PM

USD/JPY - Skirted September's Key 104 Low In Haven Trade Showdown

By Randolph Donney  —  Oct 28 - 02:35 PM
  • Early risk-off flows led by the haven yen saw 104.12 low on EBS

  • Just skirted September's 104 USD/JPY low as broader dollar bid lifted

  • Pair also helped after Treasury yields recovered despite stocks slide

  • But the 104.45 rebound high in NY was capped by prior 104.50 Fibo support

  • Now a battle of the two top haven currencies near crucial 104 support

  • BOJ tonight seen keeping easing options open, but not emplying new ones

  • Bears have the edge while below Monday's 105.055 technical top

  • A sub-104 close would only be the 2nd since the 2016 US election day

  • March's 101.18 pandemic panic low was a tick above the November 2016 low

    For more click on FXBUZ


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Source:
Refinitiv IFR Research/Market Commentary

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