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Oct 19 - 04:55 PM

USD/JPY - Near 105.50 Range Top As Stocks Drop, Crosses Slip As Risk Comes Off

By Randolph Donney  —  Oct 19 - 02:50 PM
  • USD/JPY supported by S&P slide in NY, that favors top haven USD

  • Session high so far 105.50 on EBS, Wed & Thur highs were at 105.51/50

  • Those are being reinforced by the 30-day moving average at 105.49 today

  • Dollar currently a slightly better haven than the yen nL1N2HA11U

  • Treasury yields firming on fiscal relief hopes, strong Sep retail sales

  • Downtrend line from July will be at 105.88 on Tuesday

  • Daily cloud twists at 106 on Wednesday, then widens a drops again

  • One-week vols at lowest since February, suggesting near-term range trading

  • 1-mo vols well above historical vols and risk-reversals holding bearish skew

  • Last week's low by 50% Fibo at 105.05 and 105 are key supports

  • AUD/JPY leading GBP/JPY lower amid stocks slide and Brexit brinkmanship

    For more click on FXBUZ

Chart Click here

Source:
Refinitiv IFR Research/Market Commentary

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