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Sep 24 - 03:48 PM
USD/JPY - Trade Fears, Fed Flexibility To Erode USD/JPY's Aug Rebound
First appeared on eFXplus on Sep 24 - 01:25 PM
  • Trump's UN speech, weak US data favor a further USD/JPY fall

  • Hopes for quick US-China trade deal dashed again nL2N26F0WB

  • USD/JPY cracks key 21- & 55-DMAs and Cloud top props by 107.19

  • Next props are 38.2% and 50% Fibos of Aug's rise at 106.94/47

  • 106.47 is also the daily kijun. 107.80 high is by falling tenkan

  • Downtrend resumed after Aug's trade war escalation dive erased

  • Dive in Treasury yields, S&Ps adding to risk-off USD/JPY sales

  • VIX and vol on the rise, also hurting yen-funded carry trades

Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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