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Jun 11 - 07:55 AM

USD/JPY - Edges Higher As The BOJ Meeting Draws Closer

By Martin Miller  —  Jun 11 - 05:45 AM
  • USD firm before key inflation test; yen limps towards BOJ meet nL1N3I900S

  • BOJ's tapering plan, is to be key topic at June 13-14 meeting

  • USD/JPY has edged higher from 156.97 to 157.39 range Tuesday, EBS data shows

  • There is scope for bigger gains to test the 158.26 Fibo

  • 158.26 Fibo is a 76.4% retrace of the 160.24 to 151.86 (April to May) drop

  • Daily cloud, that currently spans 153.36-155.79, limited downside last week

Source:
Refinitiv IFR Research/Market Commentary

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