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Oct 20 - 05:55 AM
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USD/JPY - Yen Perks Up After JGB Auction, But USD/JPY Cloud Support Holds
By Martin Miller — Oct 20 - 03:37 AM
• Upside capped by Japanese exporter offers, other sales
• Yen jumps after JGB auction draws big demand
• USD/JPY has slumped from 158.60 to 158.04, on Thursday, according to EBS data
• However the overall bias remains on the upside as USD/JPY usually climbs in October
• The thick cloud, that currently spans the 156.28-158.44 region, continues to underpin
• USD/JPY and EUR/JPY tend to move in tandem, 30 and 60-day
log correlations are high above +0.5
Daily Chart
Correlation Chart
(Martin Miller is a Reuters market analyst. The views expressed are his own)
Source:
London Stock Exchange Group | Thomson Reuters