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Thomson Reuters
Feb 28 - 08:36 PM
USD/JPY - Firmer US Data, Rates Pushes USD/JPY Past Key Resistance
First appeared on eFXplus on Feb 28 - 01:45 PM
  • Q4 GDP and Feb Chi PMI beats get USD/JPY past 200-, 100-DMAs
  • 111.50 options-linked offers & 76.4% of Oct-Dec drop @112.08 next
  • A close above the MAs at 111.32/39 would solidify the breakout
  • Rise supported by US yields retracing more of big Q4 collapse
  • MM also backing out some of the Fed cuts that had been priced in
  • ISMs Fri and Tues look pivotal for data-dependent Fed & markets
  • Japanese big buyers of US debt last week; Japan Feb PMI tonight

Chart: Click here

Source:
Thomson Reuters IFR Markets

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