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Oct 30 - 05:55 PM

USD/JPY - Drifts Ahead Of BOJ Policy Meeting

By Robert Fullem  —  Oct 30 - 01:55 PM
  • USD/JPY stays in a narrow EBS trading range of 152.78-153.505 ahead of the Bank of Japan meeting Thursday

  • Month-end dollar sales and lower long-term Treasury yields help cap USD/JPY gains after upbeat US ADP, housing data

  • Double-top at 153.87-88 is resistance ahead of the 154 psychological level

  • Nearby support is at the 152.38 Oct. 24 high below Tuesday's low of 152.76

  • Further support is seen at the 152 pivot level and 200-DMA of 151.50

  • Overnight yen volatility is at its highest level since early October ahead of the BOJ decision and Ueda press conference



For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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