Derived Data That Drive Results
By Martin Miller — May 04 - 05:25 AM
EBS flow data shows USD/JPY sales stopped as London traders entered the fray
The dollar had been under pressure after Wed's Fed decision nL1N3710Q2
USD/JPY based at 134.16 in early London, before a strong recovery to 134.81
Solid support circa 134.14 Fibo level, 76.4% retrace of 133.01-137.78 rise
But 2nd biggest 2023 drop on Wed highlights the bearish chart nL1N3710GR
EUR/JPY's correlation with USD/JPY high, 30/60-day logs are both above +0.60
EBS Flow Data Chart: Click here
Hourly Chart: Click here
Source:
Refinitiv IFR Research/Market Commentary
