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Nov 03 - 07:55 AM
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USD/JPY - Stuck In The Daily Cloud As US Midterms Loom
By Martin Miller — Nov 03 - 06:00 AM
• USD/JPY has edged higher from 157.76-158.20, on Tuesday, according to EBS data
• Spot steady as traders brace for start of voting in US midterms
• USD/JPY remains stuck within the daily cloud that currently spans 156.91-158.44
• A break above the cloud top would be quite a bullish technical sign
• Note EUR/JPY usually rises in November; chart hints at
repeat
Daily Chart
Correlation Chart
(Martin Miller is a Reuters market analyst. The views expressed are his own)
Source:
London Stock Exchange Group | Thomson Reuters