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Sep 17 - 04:55 PM

USD/JPY's Bull Run Tests Conversion Line

By Robert Fullem  —  Sep 17 - 02:50 PM
  • Yen sinks broadly amid profit-taking and option-related sales ahead of Wednesday’s Fed policy decision

  • USD/JPY’s near 1% rise to 142.00 forms a bullish Marubozu after a hammer set a dollar bottom Monday

  • Currently testing its daily Ichimoku conversion line at 141.89

  • Nearby resistance is 142.21, the 9-day exp moving average, ahead of Sept. 11 high of 142.55

  • One-month risk reversals move sharply inwards amid USD call demand

  • Tokyo to see August trade data and July machinery orders

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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