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Dec 29 - 02:55 AM

USD/JPY - Pauses For Breath In Asia - Trend Remains Lower

By Andrew M Spencer  —  Dec 28 - 10:05 PM
  • USD/JPY trades steady in the middle of a 141.26-141.67 range in Tokyo

  • A quiet finish to the year after the volatility seen on Thursday

  • JP10YTN=JBTC trades up 3bp at 0.615% after the UST bounce in New York

  • Charts - horizontal Tenkan and Kijun lines suggest consolidation

  • 5, 10 & 21-day moving averages track south with the primary downtrend

  • 142.61 Tenkan line then this week's 142.83 high are first resistance

  • The 140.27 December low in New York last night is the major support

  • A close below 140.27 would target 50% of the 2023 rise at 139.56

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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