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Nov 21 - 03:55 PM

USD/JPY - Recovers To 2022'S Broken Uptrend Line With Risk-Off, U.S. Rates Rising

By Randolph Donney  —  Nov 21 - 01:35 PM

  • USD/JPY surged well above the pivotal 100-DMA to 2022's prior up TL

  • China covid angst nL1N32H07M fueled haven dollar demand Monday

  • Two-year Tsy yields up, but yield curve most inverted in decades

  • Current high at 142.25 on EBS right at the broken 2022 up TL

  • Also by daily tenkan and 38.2% of the 149.70/137.665 dive at 142.23/26

  • Close above those hurdles is key to trying 50% and 61.8% at 143.68/5.10

  • Rising cloud base and rebounding S-T Tsy ylds since CPI-driven drop support

  • Next major event risks come on Wednesday in holiday-thinned trading

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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