By Martin Miller — Jul 07 - 06:05 AM
BOJ to raise inflation forecast, but keep dovish bias nL4N2YO0MI
USD/JPY chart bullish, expect big gains to new multi-year highs nL1N2YO0EB
Japanese importers in dip-buy mode, while exporters selling rallies
Spot has seen a 135.55-136.22 range on Thursday, according to EBS data
Expect a rebound in the days ahead to retest the 137.00 2022 high
134.49 Fibo support is a 23.6% retrace of the 126.37-137.00 (EBS) rise
Poll: Yen to remain weaker than key 130-per-dollar at year-end nL4N2YN1F9
EUR/JPY's 30/60-day long correlations with USD/JPY well above +0.50
The two currency pairs close in the same direction more often than not
Source:
Refinitiv IFR Research/Market Commentary