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Aug 25 - 04:55 PM

USD/JPY - Needs More Good News, Fed Help, To Surpass 107+ Thicket

By Randolph Donney  —  Aug 25 - 02:50 PM
  • Rally to 106.58 high on EBS capped after poor U.S. data

  • August consumer confidence dives to lowest since 2014 nL1N2FR111

  • News also put paid to surge in Treasury yields and stocks

  • Risk-on flows overnight hammered the haven yen more than the dollar

  • Prices face major resistance above 107 nL1N2FR0SO

  • Upside tied to 10-yr Treasuries, Fed inflation fix nL1N2FR1AK

  • First task for bulls is clearing the 55-DMA at 106.66 last

  • Support is by the daily tenkan and 200-HMA, last at 106.07/04

    For more click on FXBUZ

Chart Click here

Source:
Refinitiv IFR Research/Market Commentary

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