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Dec 22 - 03:55 PM

USD/JPY - Haven Yen's Retreat Brings Brush With Key Fibo Resistance

By Randolph Donney  —  Dec 22 - 01:59 PM

  • USD/JPY up modestly after 113.37 EBS high nears 61.8% Fibo at 113.38

  • Broad alleviation of risk-off flows from Omicron, central bank moves

  • Much bigger gains in AUD/JPY, GBP/JPY and EUR/JPY than USD/JPY

  • But USD/JPY techs are also strengthening into year-end nL1N2T70FE

  • Bollis expand from tights, closes above kijun, range above 30-DMA

  • A 113.38+ close would eye 114.82, big 115 expiries pre-115.525 peak

  • Expected record Japan budget, but JGB FY issuance seen lower nL1N2T70E9

  • Regardless, BOJ intent on YCC and keeping the yen weak

    For more click on FXBUZ

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Refinitiv IFR Research/Market Commentary


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