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Apr 12 - 03:55 PM

USD/JPY - Caught Between 10-DMA, Minor Fib Support By 108.99; UST Yield Key

By Paul Spirgel  —  Apr 12 - 01:45 PM
  • USD/JPY ends NY -0.25% at 109.38, trades slight 109.45-25 range in NorAm

  • Steady UST yields ahead of Tues CPI, keeps USD/JPY in check

  • USD eyes 109 support vs yen ahead of key US data later this week [nL1N2M51LI

  • JPY IMM short hovers by 1-yr highs, yen specs may look to re-accumulate

  • Bears in control, supt by 109 holding for now, bounces shallow

  • Bulls need to regain 10-DMA by 110.03 to slow the bearish tide

  • Steady UST yields, below recent 1.74 10-y high may inhibit future USD gains

For more click on FXBUZ


JPY Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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