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Oct 24 - 08:55 PM

USD/JPY - Falls With UST Yields Into A Weekend Of Uncertainty

By Andrew M Spencer  —  Oct 24 - 07:20 PM
  • Off 0.05% after closing -0.6% as yield spreads tightened, with the USD +0.4%

  • Japan election is expected to be close - perhaps a coalition and uncertainty

  • Bank of Japan Gov Kazuo Ueda remains cautious on US markets and Japan rates

  • Tokyo CPI, services PMI, then revised leading indicators lead data risk

  • Today's Japanese data will be interesting but unlikely to move USD/JPY

  • Charts; 5, 10 & 21-day moving averages climb, mixed daily momentum studies

  • The sustained break of the Ichimoku cloud top this week is positive

  • The bullish setup targets a break of 153.41, 0.618% Fibo of July-Sept fall

  • 151.01 Tenkan line and the 150.67 cloud top are first supports

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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