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Aug 17 - 03:55 PM

USD/JPY - Flirts With Support Sub-106, As USD Weakness Pervades

By Paul Spirgel  —  Aug 17 - 01:45 PM
  • USD/JPY soft into close -0.58% at 105.97, NorAm range 106.39-105.94

  • Dim U.S. recovery prospects, foot-dragging on congressional aid weigh on USD

  • USD/JPY supported below 106, ahead of minor Fibo by 105.96 nL1N2FJ0VV

  • Pair tests supt by 105.96, 38.2% of 104.2-107.05 rise, eyes 50% Fib 105.62

  • Falling 55-DMA by 106.95 caps, followed by triple top above 107

  • USD bulls need U.S. recovery aid help to test tops, w/o low 104.20 targeted

  • EUR/JPY a tad soft -0.35% at 125.77, yen bulls play catch-up with EUR gains

For more click on FXBUZ


JPY Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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