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Jun 30 - 06:55 AM

USD/JPY - FX Traders Take The Opportunity To Sell An Elevated USD/JPY

By Martin Miller  —  Jun 30 - 04:35 AM
  • USD/JPY chart shows a bullish cycle that looks set to extend nL1N2YH0FC

  • USD/JPY, on Wednesday, rose to hit a new 24-year high at 137.00

  • It has seen a 135.96-136.80 (EBS) range, on Thursday, so far

  • FX traders have sold USD/JPY at elevated levels all week, EBS data shows

  • Europe equities set for biggest drop in 2 weeks nL8N2YH1PV

  • EUR/JPY's 30/60-day long correlations with USD/JPY well above +0.50

  • The two currency pairs close in the same direction more often than not

Source:
Refinitiv IFR Research/Market Commentary

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