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Dec 30 - 11:55 AM

USD/JPY - Bears Looking For A Sub-103 Close, Retest Of March Lows

By Randolph Donney  —  Dec 30 - 09:41 AM
  • USD/JPY breached 103, nearing December's 102.88 EBS trend low

  • Surge in U.S. trade deficit to record high hurt dollar nAQN03K7WU

  • Move led by broad dollar breakdown on fiscal, Fed largesse, risk-on

  • Also on a split Congress keeping fiscal expansion from swamping Treasuries

  • Broadening array of approved vaccines also lifting 2021 recovery outlook

  • USD/JPY oversold intraday with key 102.88 trend low support nearby

  • Sell stops run below Monday's 103.40 low, tenkan at 103.43, now hurdles

  • Monthlies favor a sub-200-MMA (103.89) close, a major sell signal

  • Some weekly Bolli support near 102.30, but March's 101.18 low on the radar

    For more click on FXBUZ

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Source:
Refinitiv IFR Research/Market Commentary

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