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Sep 08 - 04:55 PM

USD/JPY - Risk-Off Flows Drive Yen Higher, Mostly On The Crosses

By Randolph Donney  —  Sep 08 - 03:25 PM
  • Yen sees big repatriation gains as yen-funded reflation trades unravel

  • USD/JPY breaks recent daily lows, tenkan & kijun at 106.00-07

  • But dollar-funded global risk-on trades also being unwound, limits slide

  • Slow downtrend below the falling 55-DMA with Aug's 105.10/20 lows key props

  • GBP/JPY down about 1.5% on Brexit and broader derisking flows nL1N2G519L

  • Watching 50-DMA support in S&Ps at 3,305 as pivotal for risk-off move

  • EUR/JPY well below its uptrend line from May; Aug low, 38.2% at 124.00/10

  • AUD/JPY also retreats, probing the pivotal 30-DMA at 76.47

    For more click on FXBUZ


Chart Click here

Chart Click here

Source:
Refinitiv IFR Research/Market Commentary

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