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Jan 06 - 06:55 AM

USD/JPY - If USD/JPY Breaks Above The Dec High, Stops Will Likely Be Hit

By Martin Miller  —  Jan 06 - 04:41 AM

• Yield gap between Fed, BOJ keeps USD/JPY's bias on the upside

• USD/JPY chart also highlights the underlying bullish market

• USD/JPY has seen a 156.95-157.83, on Monday, EBS data shows

• A break above the December 158.09 peak would likely trigger buy stops

• The 30 and 60-day correlations between USD/JPY and EUR/JPY are high

• Japan's Nikkei slips more than 1%

Daily Chart:


(Martin Miller is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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