By Andrew M Spencer — Dec 27 - 10:20 PM
+0.4%, near the top of a 133.43-134.15 range, underpinning the USD in Asia
Japan factory output slipped in November, but beat expectations nL4N33G16H
BoJ debated rising wages, easing deflation fears at Dec meeting nL1N33I00X
Elevated JGB yields- JP10YTN=JBTC +2bp 0.460%, under BOJ 0.50% upper band
EZ and U.S. yields both moving sharply higher - yield spread to weigh on JPY
Charts; momentum studies conflict, 21 day Bollinger bands, 10 & 21 DMAs slip
Falling Tenkan and Kijun lines - negative setup while 136.10 Kijun line caps
Major support at 128.46 weekly cloud top and 128.16, 61.8% 2022 rise
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Source:
Refinitiv IFR Research/Market Commentary