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Apr 25 - 04:55 PM

USD/JPY - Risk-Off Slide Clings To March-April Uptrend Line Support

By Randolph Donney  —  Apr 25 - 03:05 PM

  • USD/JPY probed its up TL from March at 127.54 amid risk-off flows

  • Also held above the key Apr. 20 pullback low on EBS at 127.465

  • The drop in Treasury yields eventually gave stocks some support

  • That in turn helped Tsy yields bounce and haven yen bids slipped

  • The 10-DMA, 127.21 last, is pivotal on closes, 125 is next prop

  • Japan announced fiscal stimulus to offset inflation nFWN2WN14O

  • BOJ policies to remain extremely easy regardless

  • Bigger yen gains on the crosses in high vs low-beta nL2N2WN16O

For more click on FXBUZ


Chart Click here

Source:
Refinitiv IFR Research/Market Commentary

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