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Jul 07 - 10:55 PM

USD/JPY - Softer As State Of Emergency In Tokyo Caps Risk

By Andrew M Spencer  —  Jul 07 - 09:49 PM

  • Off 0.1% with EUR/JPY 0.1% lower and AUD/JPY down 0.3% as risk sours

  • Japan to declare Tokyo COVID emergency, undermining Olympics nL2N2OK00Q

  • Nikkei is off 0.5%, E-mini S&P -0.05% and 10yr UST yields -1bp at 1.306%

  • Charts; rising trend channel base from May at 110.44 under pressure

  • Horizontal 110.42 Kijun and 111.03 Tenkan lines suggest range trading

  • 110.40/45 should hold, but a break would target 110.11, 50% May-July rise

  • Wednesday's 110.40 low and earlier 110.65 high initial support, resistance

    For more click on FXBUZ


jpy 2 jul 8 Click here

Source:
Refinitiv IFR Research/Market Commentary

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