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Mar 28 - 04:55 PM

USD/JPY Neared 2015 High, EUR/JPY Matched 2017'S Peak Amid BOJ's QE

By Randolph Donney  —  Mar 28 - 02:40 PM

  • Yen's March implosion vs the USD, EUR and AUD spiked early

  • USD/JPY's 125.105 EBS peak got closer to 2015's 125.86 high

  • But the tiny follow-thru past 125 and pullback in Tsy ylds weighed

  • Pullback so far holding by 50% Fibo of Fri-Mon rise at 123.14

  • Prices well above last week's high & Mon's low at 122.44/00

  • Rise so volatile it's forcing participants to play catch-up, buy dips

  • That despite prices being incredibly overbought and now close to 2015's peak

  • Pair is in midst of reversing its 1971-2011 post-float drop nL2N2VV0ZL

  • EUR/JPY's 137.51 EBS peak Monday exactly matched its 2018 high

  • Failure to clear that high brought a pullback to 135.31

  • Mon's 134.04 low is by 2021's 134.12 high and now more pivotal

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Source:
Refinitiv IFR Research/Market Commentary

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