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Jul 07 - 08:55 PM

USD/JPY - Holds In A Well Defined Range On Lack Of New Leads

By Krishna K  —  Jul 07 - 06:55 PM
  • USD/JPY trades in 107.25-107.79 range Tues, sandwiched between 21 & 100 DMAs

  • Absence of fresh leads & countervailing factors result in consolidation

  • USD supported by safe haven demand as U.S. virus crisis deepens nL1N2EE1CX

  • Undermined by risk-off mood as U.S. stocks close lower, ending 5-day rally

  • Fed policymakers worry growth plateauing, pledge more support nL1N2EE1I3

  • Support 107.25(21-DMA) 107.04-12; resistance 107.78(100-DMA), 107.95-108.00

  • For more click on FXBUZ


Japan to sell more superlong JGBs: Click here

Source:
Refinitiv IFR Research/Market Commentary

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