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Dec 18 - 05:55 AM

USD/JPY - Boosted By End Of Week Profit-Taking

By Martin Miller  —  Dec 18 - 04:20 AM
  • Investors take some money off table after week of USD selling nL1N2IY0A5

  • Recent profit-taking on USD/JPY shorts has limited the downside

  • Spot has risen from 103.09 in Asia to hit 103.59 in London on the EBS so far

  • Japanese exporters should remain good sellers on these recovery moves

  • USD/JPY chart points to a collapse to the March low nL1N2IY0FQ

  • USD/JPY and EUR/JPY 30/60-day correlations remain well above +0.50

  • BOJ to look at more effective ways to resolve infl conundrum nL1N2IY020

Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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