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Oct 26 - 08:55 PM

USD/JPY - Slides With US Yields As Bears Sense A Top In Place

By Krishna K  —  Oct 26 - 06:35 PM
  • USD/JPY likely to remain on defensive in Asia after 1% decline Wednesday

  • Weighed down by sharply lower US yields on bets Fed may slow rate hikes

  • US 10-yr yield -10 bps on worries over an impending global economic downturn

  • Signs of a top formation appear as fundamentals and technicals start to turn

  • USD posts lower highs for past 3 days as intervention fears cap rally

  • Closes below 21-DMA for 1st time since Aug 17 in sign of technical weakness

  • BOJ rate decision Fri, c.bank seen keeping ultra-low rates nL4N31P0J5

  • Support 145.70-80, 145.25-30, resistance 146.95-147.00, 147.30

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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