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May 03 - 01:55 PM

USD/JPY - Ahead Of The Fed Signals Are Mixed

By Christopher Romano  —  May 03 - 11:50 AM
  • USD/JPY consolidating gains off the April 27 low while above the 10-DMA

  • Those are bullish signals which are encouraging for USD/JPY longs

  • Overbought daily, monthly RSIs are falling however which are bearish signs

  • Investors await the Fed; 50bps hike, BS plan reveal are expected

  • If Fed isn't as hawkish as investors expect USD/JPY likely to fall sharply

  • For more click on FXBUZ




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Source:
Refinitiv IFR Research/Market Commentary

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