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Dec 28 - 01:55 AM

USD/JPY - Bid In Asia, As Year End Flows Dominate

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

    For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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