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Apr 09 - 04:55 PM

USD/JPY - Recovery From Key 109 Props Gets A PPI Assist, But Big 110 Hurdles

By Randolph Donney  —  Apr 09 - 02:38 PM
  • Thur's 109 EBS low on key supports followed by rise toward 110 hurdles

  • Big PPI rise aids Treasury yields and USD/JPY rebound nL1N2M21JD

  • Tenkan, 50% of 110.97-109 drop & 10-DMA surround 110 at 109.98/110.07

  • 109 key support is from the 23.6% Fibo of 2021's rise and 200-DMA

  • Break and close below there would eye the 38.2% Fibo at 107.77

  • O/B weekly RSI, and big spec longs remain restraints while sub-111

  • Will need Treasury uptrend to resume steadily to get beyond 111

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Source:
Refinitiv IFR Research/Market Commentary

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