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Jan 20 - 06:55 AM

USD/JPY - Stops Building Below, Japanese Exporters Cap Upside

By Martin Miller  —  Jan 20 - 04:54 AM
  • USD/JPY could plummet if kijun line support at 103.50 is broken nL1N2JV0IX

  • There is talk that sell stops are building below the kijun line

  • Japanese exporter offers from 104.00 upwards helping to limit the upside

  • USD/JPY sees a 103.72-97 range so far, according to EBS prices Wednesday

  • Meanwhile Japanese importer, investor and other bids trail down from 103.50

  • USD/JPY, EUR/JPY relationship weak, 30-day log correlation well under +0.50

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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