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Oct 28 - 05:55 AM
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USD/JPY - Yen Edges Up As Fed Hawkish Hold Eyed, Cloud Supports USD/JPY
By Martin Miller — Oct 28 - 04:31 AM
• USD/JPY has slipped from 158.03 to 157.65, on Wednesday, EBS data shows
• Market on tenterhooks ahead of the Fed decision rate decision, a hawkish hold is eyed
• Daily cloud, that currently spans the 156.23-158.44 region, should continue to underpin USD/JPY
• If there is a eventual break above the cloud top, that would be quite bullish development
• USD/JPY and EUR/JPY tend to move in tandem, 30 and 60-day
log correlations are high above +0.5
Daily Chart
Correlation Chart
(Martin Miller is a Reuters market analyst. The views expressed are his own)
Source:
London Stock Exchange Group | Thomson Reuters