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Dec 21 - 05:55 AM

USD/JPY - Equity Selling Ups The Risk Of A New USD/JPY Top

By Martin Miller  —  Dec 21 - 03:50 AM
  • Asia stocks fall after Wall Street rally stalls nL1N3DG0BU

  • Risk aversion usually sees funds flow into the safe-haven yen

  • USD/JPY has slipped from 143.57 to 142.81, in Asia, EBS data shows

  • Recall, spot peaked at 144.95 on Tuesday, on a dovish BOJ nL1N3DE0OI

  • The recent failure above the tenkan line, now at 143.77, warns of a top

  • USD/JPY and EUR/JPY markets are moving in tandem with each other

  • 30/60-day correlations between USD/JPY and EUR/JPY are above +0.60

Source:
Refinitiv IFR Research/Market Commentary

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