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Nov 29 - 12:12 PM
USD/JPY - May See More Gains Next Week, Though U.S-China Pivotal
First appeared on eFXplus on Nov 29 - 09:00 AM
  • FX traders have been buying USD/JPY all week according to EBS flow data

  • Shrugging off concerns about HK tensions and the U.S.-China trade deal

  • But more news on the trade-deal, or issues surrounding HK tensions pivotal

  • Dollar hits levels not seen May vs yen nL4N2891EX

  • A weekly close above 109.37, 61.8% retrace of 112.40-104.46 drop = bullish

  • EUR/JPY's correlation with USD/JPY high, 30/60-day logs are +0.70/+0.62

Weekly Fibo Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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