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Feb 08 - 07:55 AM

USD/JPY - Soars Above 149, Possibly Unmasking 150 For A Probe

By Martin Miller  —  Feb 08 - 06:25 AM
  • Dollar consolidates after Fed comments; yen slips nL1N3ET0H2

  • BOJ rules out rapid hikes, signals ending risky asset buying nL1N3ET047

  • USD/JPY has risen from 147.94 to 149.19, on Thursday, EBS data shows

  • A daily close above a 149.17 Fibo could spark much bigger rise to 150.00

  • 149.17 Fibo is a 76.4% retrace of the 151.92-140.27 (EBS) drop

  • 30/60-day correlations between USD/JPY and EUR/JPY are both above +0.70

  • USD/JPY and EUR/JPY markets are moving in tandem with each other

Source:
Refinitiv IFR Research/Market Commentary

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