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Jun 24 - 07:55 AM

USD/JPY - Equity Rebound, Tech Support, Put A Floor Under USD/JPY

By Martin Miller  —  Jun 24 - 06:15 AM
  • Japanese shares rise after solid Wall Street gains nL4N2YB10R

  • Rise in risk appetite usually sees yen outflows, limiting USD/JPY's downside

  • FX traders found support in USD/JPY right at a key 134.27 Fibo nL1N2YB0C3

  • Recall 134.27 was the absolute low registered on the EBS on Thursday

  • Japanese importer and others retain dip-buy interest ahead of 134.27

  • USD/JPY has seen a 134.36-135.22 range so far on Friday

  • EUR/JPY's 30/60-day long correlations with USD/JPY well above +0.50

  • The two currency pairs close in the same direction more often than not

Source:
Refinitiv IFR Research/Market Commentary

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