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Jan 04 - 07:55 AM

USD/JPY - En Route Toward 101.00 - Beware Below

By Richard Pace  —  Jan 04 - 05:46 AM
  • USD/JPY bucking typical risk appetite demand, and edges lower

  • A post covid world of low interest rates and yields can favour JPY

  • Broader selling of USD and talk of decent USD/JPY supply, favours shorts

  • 103.31-102.72 Mon, new low since 10 Mar 102.02, 9 Mar/4-year low 101.18

  • Resistance at falling 21-DMA 103.65 and big 104.00 options nL1N2JF0E7

  • Big option barriers 102.00, size grows at 101.00 and much bigger 100.00

  • Japan doesn't want USD/JPY below 100.00 nT9N2GY019



JPY=EBS Click here

Source:
Refinitiv IFR Research/Market Commentary

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