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Oct 20 - 04:55 PM

USD/JPY - Fourth Week Struggling With 150 Hurdle, Risk Vs Reward Doubts Above

By Randolph Donney  —  Oct 20 - 02:35 PM
  • USD/JPY was little changed after Friday's 150 EBS high was rebuffed

  • This was 4th straight week near, but without a close above, 150

  • Market threatened by return of MoF intervention to boost yen

  • Yen not getting much help from BoJ, vows to stay ultra-easy

  • Japan core inflation below 3% reported, overall 3.0% vs 3.2% last

  • BoJ again stepping in to tamp down rising JGB yields with loans

  • Fed no longer favored to hike rates again, but first cut pushed out

  • Key kijun support rose to 148.73 from Oct. 3's spike low at 147.30

  • With MoF and major resistance above 150, new longs look riskier

  • Assuming anything like prior 2023 uptrend corrections reoccur

For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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