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Jun 08 - 08:55 PM

USD/JPY - Bulls Shaken But Bet On Support To Hold

By Krishna K  —  Jun 08 - 06:50 PM
  • USD/JPY opens 1% lower as p/taking sets in on inability to break 110.00

  • Decline seen as a natural correction to sharp gains of 1.85% in June

  • Strong risk appetite on swift global economic recovery optimism to underpin

  • Short JPY positions pared as Fed starts 2-day meeting on interest rates Tues

  • Fed reaction to last Fri stunning U.S. jobs data keenly awaited nL1N2DK062

  • USD support 108.08, previous triple high & 107.90, 50% of May-June rally

  • Resistance 108.65-70, 108.90-109.00; 107.90 loss to turn outlook to neutral

Central banks face big test: Click here

Source:
Refinitiv IFR Research/Market Commentary

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