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May 14 - 06:12 PM

USD/JPY - Drifts Lower But Displays Resilience

By Krishna K  —  May 13 - 06:50 PM
  • USD/JPY trickles lower in trend less trade, ensconced in 106.00-108.00 range

  • Fed Chairman Powell warning on extended economic weakness weighsnL1N2CV2CU

  • Concerns on 2nd virus wave adds to negative mood nL8N2CV6UUnL1N2CV2M1

  • Simmering U.S.-China tensions cap rallies nL1N2CV2PSnL1N2CV1CJ

  • Powell rejection idea of using negative interest rates limits downside

  • Support 106.65-75, 106.35-40, resistance 107.30-40, 107.60-70


Fiscal firepower png: Click here

Source:
Refinitiv IFR Research/Market Commentary

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