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Nov 12 - 03:48 PM
USD/JPY - Bulls Still Stumped By Trump, Await Data, Trade Deal
First appeared on eFXplus on Nov 12 - 01:25 PM
  • USD/JPY softer, but still in tight range after Trump's speech

  • He touted U.S. econ strength, but wants rate lower, negative ok

  • Says close to phase one deal with China, tariffs upped if not nW1N26F00X

  • USD/JPY hovering above 108.99 session low on the speech

  • Says having substantive talks with Japan on trade

  • US to announce Wed if 6-mo hold on auto tariffs will be extended

  • Focus now on Wed's US CPI, Powell testimony and auto tariffs decision

  • Friday's US retail sales a better benchmark for economy, Fed's pause

  • Bulls need a 109.37+ close -- 61.8% of 2019's drop -- to gain traction

  • 110 options hurdles and the 76.4% Fibo at 110.53 eyed on a breakout

  • Daily RSIs top-heavy. Key Fibo & up TL props are at 108.50 on Friday







Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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