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Aug 18 - 05:55 PM

USD/JPY - Rallies To New August High, Above 135.50 Hurdles, In Broad Dollar Advance

By Content Admin  —  Aug 18 - 02:50 PM
  • USD/JPY cleared Wed's high and the 30-DMA at 135.50 amid broad USD rise

  • US data were more bullish than f/c overall nL1N2ZU15X stopped Tsy yld drop

  • Fed speakers later left impression Fed hikes not about to tail off soon

  • USD/JPY now near 61.8% of July-Aug drop at 135.95 and 136 expiries

  • Rise from 130.40 Aug low/23.6% of 2020-22 uptrend aids remaining spec longs

  • IMM specs last week at lowest since they went net long in March 2021

  • A close above 136 would shift the focus to the 76.4% Fibo at 137.26 on EBS

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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