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Sep 15 - 04:55 PM

USD/JPY - Brushes Key Fibo, Range Supports Into Fed, BOJ Meetings

By Randolph Donney  —  Sep 15 - 03:00 PM
  • USD/JPY's 105.30 low by 61.8% of July-August 104.195-7.05 EBS rally

  • That Fibo at 105.29 breached but not closed below by August lows

  • Dollar seen as prime funding currency due to Fed's extreme easing bias

  • FOMC Wednesday seen solidifying that low rates for longer bias

  • BOJ Thursday seen steady, already at the interest rate reversal point

  • New PM Suga not seen stirring the policy pot much, focus on pandemic

  • WTO's US-China tariffs ruling a potential plus for the haven yen

  • But USTR says it has no effect on the Phase-1 trade deal nL1N2GC19G

  • Lack of big 105 expiries after Thursday may open way lower nL1N2GC0QI

  • But a retest of July's 104.195 EBS lows could trigger Japan jawboning

    For more click on FXBUZ


Chart Click here

Source:
Refinitiv IFR Research/Market Commentary

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