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Jun 02 - 02:36 PM

USD/JPY - Stagnation Likely To End Soon, As Yen Sold On Crosses

By Randolph Donney  —  Jun 01 - 03:05 PM
  • USD/JPY is statistically ripe for a range breakout nL1N2DE15I

  • Stuck above 107.03 kijun, below blizzard of 108.08+ resistance

  • 107.83 EBS high again capped by the upper 10-day Bolli band

  • Tenkan takes first dip since May 8 to 107.52, pivotal on close

  • Real action's in yen crosses, AUD/JPY above 200-DMA nL1N2DE0RQ

  • Biggest IMM net short since September getting squeezed

  • EUR/JPY's broken 2020 down TL used as support at today's 119.42 low

  • 120 seen as a major pivot point ahead of March's 121.14 high

Chart Click here

Source:
Refinitiv IFR Research/Market Commentary

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