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Sep 13 - 06:55 AM

USD/JPY - Bulls Have More Work To Do To Take Control

By Martin Miller  —  Sep 13 - 05:14 AM
  • USD/JPY has seen a 109.86-110.16 range on Monday according to EBS prices

  • Likely to be a cluster of stops above Sept 110.45 peak, 110.46 Aug 13 high

  • A clean break above 110.45/46 needed in order for bulls to take control

  • Despite the push through 110.00 offers, upside limited, plenty more above

  • Funds and retail playing both sides, but currently more on the offer

  • No sign of a USD/JPY technical breakout nL1N2QF0D4

  • EUR/JPY's correlation with USD/JPY high, 60-day log is at +0.63

Daily Chart Click here

Source:
Refinitiv IFR Research/Market Commentary

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