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Oct 28 - 03:55 PM

USD/JPY - Bid After Dovish BoJ Rate Hold, 10-Day Avg At 148.35 In Focus

By Paul Spirgel  —  Oct 28 - 01:35 PM
  • USD/JPY ending Noram +0.9% to 147.62; Friday's range 147.86-145.97

  • Pair soared after BoJ dovish rate hold and guidance nL1N31T06D

  • U.S. PCE, ECI data in-court keeps pair steady near high in NorAm

  • Yen slides as dovish BoJ hold tempers recent intervention gains nL1N31T18K

  • Res at 147.86 Fri high, 148.34 10-DMA, 149.70 post -intervention high Oct 24

  • Supt 146.13 50% Fib of 140.31-151.94 Sept Oct range, 145.97 Fri low

  • A close sub-50% Fib shifts momentum to bears, puts Oct 21 low 144.50 in view

  • BoJ dovish guidance suggests BoJ ok w/yen weakness wants to manage the decline

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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