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Jul 14 - 04:55 PM

USD/JPY - Falling Treasury Yields, Fed's Taper Risk Avoidance Weigh

By Randolph Donney  —  Jul 14 - 02:51 PM
  • USD/JPY's rebound from Thur's dive being undone by Fed's inflation tolerance

  • Fed Chair Powell hard to pin down on what exactly would trigger tightening

  • Drop in Treasury yields toward pre-CPI surge levels dims USD demand

  • Appears nervous spec longs used rebound to Thur's high to exit nL1N2OQ1NP

  • A close below the 55-DMA & 21-day Bolli by 109.80 would be bearish

  • Last week's low and daily cloud top at 109.535/45 on EBS next key props

  • Overbought weekly sell signal eyes 13-WMA at 109.64 as on-close pivot pt

For more click on FXBUZ


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Source:
Refinitiv IFR Research/Market Commentary

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