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Jun 21 - 04:55 PM

USD/JPY - Rides The Fed-BOJ Policy Divergence Train To New 24-Year Highs

By Randolph Donney  —  Jun 21 - 02:35 PM

  • USD/JPY gained 1% and is by Fibo resistance at 136.50 and at 24-yr highs

  • BOJ's ultra-easy policies got the nod from PM Fumio Kishida nL1N2Y805L

  • That after the Fed's 75bp June hike and two more such hikes priced in

  • Haven Yen was also weighed down by a rebound in riskier assets nL1N2Y819V

  • A close above 136.50, the 161.8% Fibo off May base, would bolster bulls

  • Little in way of historical resistance until 139.90

  • The 161.8% Fibo off 2021's pandemic base is interim target at 138.62 on EBS

  • Focus now is on Wed's congressional testimony by Fed chair Powell

    For more click on FXBUZ


Chart Click here

Source:
Refinitiv IFR Research/Market Commentary

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