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Oct 21 - 04:55 PM

USD/JPY - Slid Amid Derisking, But Treasury Yield Rise Cushions Fall

By Randolph Donney  —  Oct 21 - 02:57 PM

  • USD/JPY slid to 113.65 on EBS amid risk-off flows favoring the yen

  • Pair broke 23.6% Fibo of Oct's rise at 113.78, based at 113.65 on EBS

  • Down 0.4% after rebound on steadily rising S-T Treasury yields

  • Claims drop, Philly Fed, existing homes sales a net plus nL1N2RG2F0

  • But Wed's failed breakout past 2018 high and O/B pressures weigh

  • N225 dive, major top, CB tightening potential risk-off drags nL1N2RH1DE

  • 38.2% Fibo of Oct rise and Oct. 14 low at 113.21 remain pullback targets

  • Close above 2018's 114.55 high is needed to end correction

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Source:
Refinitiv IFR Research/Market Commentary

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