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Sep 04 - 04:55 PM

USD/JPY - Centers To Mid-105-107 Range As Dollar Rebound Evaporates

By Randolph Donney  —  Sep 04 - 03:10 PM
  • Another rally to nowhere for USD/JPY stanched by 55-DMA sellers

  • Rebound on jobs data, rates rise reversed as stocks rebound hit USD

  • Rise in Treasury-JGB yield spreads tempering the USD/JPY retreat

  • The 106.06 EBS low is by Thur's at 106.00 low and the cloud base

  • A sub-106 close after 55-DMA topside rejections would be bearish

  • Major resistance remains near 107, keeps bearish bias intact

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Source:
Refinitiv IFR Research/Market Commentary

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