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Dec 29 - 02:55 AM

USD/JPY - Bulls May Still Have Some Gas Left In The Tank

By Ewen Chew  —  Dec 29 - 12:23 AM
  • USD/JPY still has upside potential despite Tues retreat

  • Bollinger uptrend channel intact; support moves to 114.42

  • That channel base reinforced by Ichimoku Cloud at 114.34

  • USD bulls may prefer to buy dips for now as Asia stocks slip

  • But nascent bounce in S&P futures could rekindle USD/JPY

  • Elevated Treasury yields underpin USD strength; 2y 0.740%

  • For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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