By Andrew M Spencer — Oct 23 - 11:40 PM
Trades off 0.25% as yield spreads tightened - 10yr UST slipped 2bp to 4.226%
Japan's Jibun Bank factory activity contracted for 4th month to 49 from 49.7
BOJ Gov Kazuo Ueda said achieving the 2% inflation target is "taking time"
The Japanese election at the weekend suggests the BOJ will remain cautious
Charts; 5, 10 & 21-day moving averages climb with the daily momentum studies
The sustained break of the Ichimoku cloud top this week is positive
The bullish setup targets a break of 153.41, 0.618% Fibo of July-Sept fall
151.40 200 day moving average and the 151.01 Tenkan line are first supports
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Source:
Refinitiv IFR Research/Market Commentary