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Jul 27 - 04:55 PM

USD/JPY - Bulls Battered By Dollar Slide, Haven Yen Surge Pre-Fed

By Randolph Donney  —  Jul 27 - 02:46 PM
  • USD/JPY fell 0.62% on risk-off yen buying, broad long USD profit-taking

  • Tuesday's 110.385-9.585 range on EBS took out preceding 4 days' lows

  • Tenkan & 50% Fibo of 109.07-110.59 July 19-23 rebound @109.83 broken

  • Prices also back inside the cloud, Wednesday spanning 110.02-109.29

  • Low is by the 100-DMA at 109.57 that hasn't been closed below since Jan 28

  • Vols rising with VIX, risk-reversals skewed strongly toward yen calls

  • Bullish USD/JPY bias to start the week negated, all eyes on Fed Wednesday

  • But first, U.S. big tech earnings reports for risk flows

For more click on FXBUZ


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Source:
Refinitiv IFR Research/Market Commentary

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