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Mar 09 - 05:55 PM

USD/JPY - Advance Slows As Strong Resistances Loom

By Krishna K  —  Mar 09 - 05:01 PM
  • USD/JPY opens 0.35% lower; rally falters above 109.00 as U.S. yields soften

  • Caution sets in after dollar's one-way 4.1% rise from 104.92 Feb 23 low

  • U.S. 10-year yield -6 bps ahead of auction Wed on perception rise overdone

  • Pullbacks to remain limited on faster-than-expected U.S. economic rebound

  • Focus shifts to U.S. CPI Wednesday, PPI Friday and Fed meeting next week

  • 200-week MA at 109.01, weekly close above will strengthen uptrend

  • Resistance 109.20-25, 109.45-60, 109.75-85; support 108.30, 107.80-90

  • For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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