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Jul 27 - 10:55 PM

USD/JPY - Key Support Under Pressure, Break To Target 103.66

By Andrew M Spencer  —  Jul 27 - 08:40 PM
  • -0.1%, extending yesterday's 0.7% loss - bouyant risk and broad USD weakness

  • Low key Asian markets, E-mini S&P +0.2%, Nikkei flat, AsiaxJP stocks +0.4%

  • No Japanese data or BoJ activity today, so risk and the USD to lead USD/JPY

  • Techs; 105.20, 61.8% of the 2020 rebound back under pressure

  • Close below would open the door to a test of the 103.66 76.4%

  • Daily momentum studies, 5, 10 & 21 DMAs trend south - bearish setup

  • 105.70 lower 21 day Bolli suggests USD/JPY over sold short term

  • NY 105.11 low and earlier 105.33 high initial support-resistance

    For more click on FXBUZ

jpy jul 28 Click here

Source:
Refinitiv IFR Research/Market Commentary

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