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Dec 13 - 03:48 PM
USD/JPY - Rally Stalled As US-China Trade Deal Faded, US Sales Miss
First appeared on eFXplus on Dec 13 - 01:25 PM
  • USD/JPY's risk-on 109.71 high just shy of the 109.73 trend high

  • Good vibes after UK vote, ahead of US-China trade deal backed the rise

  • Profit-taking on both drivers & below 200-DMA, TL @109.80 nL1N28N0C8

  • Trade deal confirmation faded on limited tariff rollbacks nL1N28N0V5

  • Soft US retail sales also trimming Thur's big Treasury yields rise

  • USTR trade deal details nL1N28N0V5 in PM lessens poor deal response

  • Weekly close above 55-WMA at 109.26 would be a plus, below a drag

  • Focus Monday is on global PMIs for December

Chart: Click here

Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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