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Apr 28 - 07:55 AM

USD/JPY - FX Traders Pile Into USD/JPY Bringing The 200-DMA Into Focus

By Martin Miller  —  Apr 28 - 05:55 AM
  • Yen slumps after BOJ maintains ultra-low rates nL1N36V0D8

  • BOJ's new chief embarks on policy review nL1N36V01N

  • USD/JPY up from 133.36 to breach 135.95 Fibo and 136.00 psychological level

  • 135.95 Fibo is a 76.4% retrace of the 137.90 to 129.65 (March) drop

  • A daily close above the 135.95 Fibo would unmask the 200-DMA at 137.00

  • EUR/JPY's correlation with USD/JPY high, 30/60-day logs are both above +0.60

Source:
Refinitiv IFR Research/Market Commentary

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