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Oct 14 - 04:55 PM

USD/JPY - Gets Risk-On, Claims, PPI Lift, But No Treasury Yield Support

By Randolph Donney  —  Oct 14 - 02:39 PM
  • USD/JPY bounced up toward Wed's 113.80 highest since 2018

  • Rally mostly due to risk-on flows hurting the haven yen

  • Modest drop in Tsy yields on short profit-taking limits rebound

  • Retail sales, Michigan sentiment data are out Friday

  • Fed seen raising rates in 2022, BOJ stuck near zero nL1N2RA1TV

  • Above 113.80 & 114 options is 161.8% Fibo off Aug base @114.16 on EBS

  • Bullish candle Thur, but needs new highs for confirmation

  • Broader targets are 76.4% of 2016-20 drop & 2018 high at 114.54/55

  • Uptrend solid unless Tuesday's 113 low is closed below

For more click on FXBUZ


Chart Click here

Source:
Refinitiv IFR Research/Market Commentary

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