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Aug 21 - 08:55 PM

USD/JPY - Cloud Break - Yield Differentials To Lead

By Andrew M Spencer  —  Aug 21 - 07:40 PM

  • Steady after closing up 0.8% with higher USD and wider yield differentials

  • No Japanese data or scheduled BoJ speeches, so USD, UST yields and risk lead

  • E-mini S&P off 0.2% early which could add to pressure on the Nikkei

  • Charts: USD/JPY closed above the daily cloud, which rises this week

  • Daily momentum studies head higher - a positive signal

  • 136.30 daily cloud top is initial significant support

  • 137.26, 76.4% of the July-August fall is first resistance

  • Close above 137.26 would target a test of 139.38 July high

    For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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