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Aug 12 - 07:55 AM

USD/JPY - Heavier Tone After Cloud Top Failure

By Peter Stoneham  —  Aug 12 - 06:18 AM
  • Dollar looking tired following recent rally and data disappointment

  • USD/JPY plays a tight 110.32-47 range just below its daily cloud top, 110.51

  • Volume and interest low but some offers from @110.50, bids from sub-110.30

  • Large option expiries in area to help contain action, $2.9 bln+ 110.00-55

  • US yields somewhat supportive after bounce from Wednesday lows

  • Technically, failure to hold a cloud break could be significant

  • Dollar still a threat to the yen though: trend resumption risk high

    For more click on FXBUZ







USD/JPY daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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