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Apr 18 - 11:55 AM

USD/JPY - Stays Weighed Down By Lower Highs, Momentum Stalls

By Robert Fullem  —  Apr 18 - 09:43 AM

• USD/JPY firms toward top of 142.25-142.52 range in low holiday turnover

• Second round of Japan-US trade negotiations next week

• Japan doesn't manipulate currency, Fin Min Kato told parliament

• BOJ Gov Ueda said will keep raising rates if inflation rises toward 2%

• Core CPI accelerated in March due to food costs

• New ambassador to Japan said US, Japan need work together on defense

• More auto adjustments, Toyota may shift some production to US

• Series of lower daily highs continues to weigh though momentum has stalled

• Multiple clouds offer resist. at higher levels; monthly cloud bottom 145.80

• Supp: 141.62 weekly low; 142.43 Sept 17 high; 140.69 lower BOllinger

• Resist: 143.11, Thsdy high; 143.81 9-EMA, 144.00 Apr 10 low

• IMF/World Bank meeting, Japan PMIs early next week
Yen


(Robert Fullem is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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