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Nov 26 - 03:55 PM

If USD/JPY Drops, EUR/JPY Will Likely Be Dragged Down Too

By Martin Miller  —  Nov 26 - 09:50 AM
  • Dollar chart's outlook darkens nL1N2IB0KW

  • FX traders exiting USD/JPY all week EBS flow data shows nL1N2IC0FY

  • That is keeping the lid on USD/JPY risking its demise nL1N2IC0NN

  • USD/JPY has seen a 104.22-44 range on Thursday, according to EBS prices

  • USD/JPY outlook bearish as the recent "bull trap" weighs nL1N2IC0DJ

  • USD/JPY and EUR/JPY 30/60-day correlations remain well above +0.50

  • If USD/JPY drops, EUR/JPY will likely be dragged down with it

Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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