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Nov 11 - 04:55 PM

USD/JPY - Holds Gain After Downside Proves Limited

By Robert Fullem  —  Nov 11 - 02:15 PM
  • USD/JPY settles near top of 152.62 to 153.955 EBS range in modest turnover due to a U.S. holiday

  • Yen is on its back foot versus all its G-10 counteparts as U.S. shares advance though the Treasury market is closed

  • Pair holds above its pre-election Nov. 6 low of 151.30

  • U.S. inflation data and Fed speakers may offer the USD support later in the week

  • The weekly cloud top of 152.89 is nearby support ahead of a bullish 21-DMA versus 200-DMA crossover just below 152

  • Strong resistance is seen at last' week's double-top near 154.71

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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