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Aug 14 - 06:55 AM

USD/JPY - Set For Bigger Gains Despite 145 Intervention Worries

By Martin Miller  —  Aug 14 - 04:50 AM
  • USD/JPY jumped to post a new 2023 high at 145.22 in Asia nL4N39V1KN

  • It then slipped back as traders looked for clues of possible intervention

  • Japan intervened in currency markets last Sept when USD/JPY exceeded 145

  • USD on course for a great August, expect bigger gains nL1N39U092

  • USD/JPY chart points to larger moves above major 146.11 Fibo nL1N39U0BN

  • 146.11 Fibo, is a 76.4% retrace of 151.94-127.22 (2022-2023) fall

  • EUR/JPY has seen a 158.20-84 range, on Monday, according to EBS prices

Source:
Refinitiv IFR Research/Market Commentary

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