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Oct 13 - 05:55 AM

USD/JPY - FX Traders Focus On A USD/JPY Break Above 114.00

By Martin Miller  —  Oct 13 - 04:08 AM
  • USD/JPY, on Monday, saw a 111 point rise on EBS: biggest gain since Nov 2020

  • USD/JPY has seen a 113.35-61 range on Wednesday, according to EBS prices

  • Spot reached 113.78, on Tuesday, the highest level in nearly 3 years

  • USD/JPY chart points to bigger gains above 114.00 nL1N2R90DN

  • Japanese importer bids are said to start at 113.00, right by Tuesday's low

  • USD/JPY versus EUR/JPY 30/60-day log correlations are both well above +0.50

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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