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Thomson Reuters
Jan 09 - 03:48 PM
USD/JPY - Prone To Pullbacks As Fed Hawks Go Into Hiding
First appeared on eFXplus on Jan 09 - 01:35 PM
  • USD/JPY dived in broad USD drop on dovish Evans, Bostic nL1N1Z90X8
  • Fed seen on hold unless inflation risk rises, growth threats grow
  • Treasury yld dip takes USD/JPY down to 108.05, by 108.02 low Monday
  • Supply 109+ pre 50% Fib & 10-DMA, 108 and 107.50 downside pivot pts
  • Recently cleared 100-HMA & hourly Cloud base broken - now @108.48/56
  • Progress on US-China trade transactions, but structural deal awaited
  • Powell and Clarida on tap Thur, Dec CPI Fri - oil rebounding since

Chart: Click here

Chart: Click here

Source:
Thomson Reuters IFR Markets

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