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Jun 11 - 04:55 PM

USD/JPY - Bulls Build A Base Ahead Of Fed And BOJ Meetings, Post-Payrolls

By Randolph Donney  —  Jun 11 - 02:51 PM
  • USD/JPY up 0.37% ahead of week's close as Treasury yields stabilize

  • Week's 109.19-30 lows held key Fibos and moving average supports

  • Prices now probing the tenkan & 50% of the post-NFP drop at 109.76

  • A close above would eye big 110 expiries & June's twin 110.325 EBS tops

  • US retail sales Tuesday eyed next, then Fed Wednesday and BOJ Friday

  • Fed seen steady, but statement, econ projections, dots may be bullish

  • BOJ likely to extend pandemic aid nL3N2NT058 with rates bottomed

  • Japan pandemic recovery struggling vs US due to low vaccination rate

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Source:
Refinitiv IFR Research/Market Commentary

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