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Aug 21 - 04:55 PM

USD/JPY - Rebounds On US Data, Overbought Crosses Taking The Hit

By Randolph Donney  —  Aug 21 - 02:40 PM
  • USD/JPY up from 105.44 low to 106.07 tenkan high on strong US data

  • Near flat ahead of the weekly close after a pullback in Tsy yields

  • Lows made as EUR/JPY's poor EZ PMI slide spilled over nL1N2FN0K7

  • But EUR/JPY held key props allowing dollar gains to lift USD/JPY

  • US home sales surge nL1N2FN0Z6 also a boost for the dollar

  • Very bullish USD/JPY seasonal from late August eyed nL1N2FM1DV

  • July's 104.20 base by 2019's low and ABC target looks important

  • Biggest option expiries next week are by 105, by Wed's 105.10 low

  • Bulls need a close above Thur's high and 10-DMA by 106.21

    For more click on FXBUZ


Chart Click here

Source:
Refinitiv IFR Research/Market Commentary

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