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Dec 28 - 11:55 PM

USD/JPY - Reverses Wednesday's Gains, As Risk Sours In Asia

By Andrew M Spencer  —  Dec 28 - 10:20 PM

  • Trades -0.7% retracing all of Wednesday's gains, as risk sours in Asia

  • No significant Japan news, so year end flows likely behind the dip

  • 10yr yields remain just below 0.5% upper band, JP10YTN=JBTC trades 0.455%

  • Despite the BOJ policy change, Fed yield expectations in Q1 2023 support USD

  • Charts; positive momentum studies, 21 day Bollinger bands head lower

  • 10 & 21 day moving averages, Tenkan and Kijun lines fall - negative setup

  • Bias is lower while yen closes below 135.23 Kijun line, which has capped

  • 130.58 Dec 20 low is initial significant support

    For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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