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Jun 27 - 07:55 AM

USD/JPY - Underpinned By The Extended Global Equity Rebound

By Martin Miller  —  Jun 27 - 06:05 AM
  • Stocks extend bear market bounce as inflation angst eases nL8N2YE1PZ

  • Rise in risk appetite usually sees yen outflows, underpinning USD/JPY

  • USD/JPY has seen a 134.53-135.28 range so far on Monday

  • Chart points to bigger gains, key 134.27 Fibo limits downside nL1N2YE098

  • Speculators snap up the dollar for the next leg higher nL1N2YD0D1

  • 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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