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Dec 29 - 08:55 PM

USD/JPY - USD Leads - Familiar Levels With 104.00 Pivotal

By Andrew M Spencer  —  Dec 29 - 07:23 PM
  • Flat after closing -0.25%, driven by broad based USD weakness

  • U.S. COVID-19 relief stalled on McConnell-Trump friction nL1N2J90H3

  • Risk soured late in NY on McConnell, USD stayed soft - E-mini S&P -0.05%

  • Uncertainty and familiar levels for USD/JPY suggest range trading in Tokyo

  • Charts - choppy consolidation around 103.60 for a week likely to extend

  • 103.81 Kijun line caps on close, then 103.95, 38.2% Nov-Dec fall resistance

  • Close above 104.00 would be a positive signal for 104.41 cloud base test

  • 103.49 Tenkan line a recent base, then Monday's 103.40 low initial support

For more click on FXBUZ


jpy dec 30 Click here

Source:
Refinitiv IFR Research/Market Commentary

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