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Apr 29 - 03:55 PM

USD/JPY - Bulls Hit Resistance Ahead Of 50% Fib Of April Range By 109.23

By Paul Spirgel  —  Apr 29 - 01:39 PM
  • USD/JPY ending NorAm +0.26% at 108.88, Thursday's range 109.22-108.44

  • Yen weakness bucks general weak USD trend after Dovish Fed hold Wednesday

  • Dollar rally vs yen capped by kijun as yield rise hits risk nL1N2MM1Y8

  • Pair continues to track UST 10-yr yield higher US10YT=TWEB

  • Offers abound at 109.22, ahead of 50% Fib of 110.97-107.48 Apr range

  • Above 109.23, resistance at 109.96 the Apr 9 high

  • Support at 10/55-DMA area 108.32-22, then 107.48 the Apr 23 low

For more click on FXBUZ


JPY Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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