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May 11 - 05:55 AM

USD/JPY - Bulls Should Be Mindful Of The Equity Sell-Off

By Martin Miller  —  May 11 - 04:10 AM
  • Japanese shares end lower on tech sell-off, pandemic worries nL1N2MY0FA

  • In times of rising risk aversion, funds usually flow into safe-haven yen

  • Said to be USD/JPY offers from 109.00 upwards, capping recovery moves

  • However USD/JPY retains a bullish bias despite recent setback nL1N2MY0FC

  • Japanese importers, investors especially between the 108.00/50 region

  • USD/JPY has seen a 108.78-108.98 range on Tuesday, according to EBS prices

  • USD/JPY, EUR/JPY 30-day log correlation under +0.5, weak relationship

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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