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Apr 23 - 05:55 AM

USD/JPY's Sustained Selling Runs Into Solid Support

By Martin Miller  —  Apr 23 - 03:48 AM
  • Dollar pinned lower before Fed meets next week nL4N2MG1H5

  • Solid selling of USD/JPY seen since Thur's Ldn session, EBS flow data shows

  • USD/JPY has seen a 107.80-108.00 range so far on Friday

  • USD/JPY bears should beware of thick cloud support that spans 106.16-107.95

  • The chart is bearish, but key 107.77 Fibo is still intact nL1N2MG0DT

  • Simple strategy to capture a dollar recovery versus yen nL1N2MF0UK

  • USD/JPY, EUR/JPY 30-day log correlation under +0.5

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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