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Oct 22 - 06:55 AM

USD/JPY - Dip Buyers A Plenty - Look To U.S. PMI

By Richard Pace  —  Oct 22 - 04:47 AM
  • USD/JPY met decent demand from Thursdays 113.65 new setback low

  • Dip demand from 113.82 Fri - rising daily Tenkan line 113.85 now supports

  • Bigger bids Oct 13-14 low 113.20. Resistance Fri/Thur/Wed highs 114.20/41/69

  • Focus on U.S. PMI data - a beat can bolster USD/JPY support

  • Overnight USD/JPY option break-evens bigger than other G10 US pairs

  • Suggests PMI volatility risk greatest here. Feds Powell speech later, too

  • Huge 115.00 option barriers have grown this week - remains key topside risk

  • Related comment nL1N2RB0KH

For more click on FXBUZ


JPY=EBS Click here

Source:
Refinitiv IFR Research/Market Commentary

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