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Oct 12 - 05:55 PM

USD/JPY - Lower Despite Risk Rally; Technical Trading Rules

By Krishna K  —  Oct 12 - 05:15 PM
  • USD/JPY opens 0.25% lower on failure to sustain foothold above 106.00

  • Weighed down by prospect of limited U.S. virus relief bill nL1N2H206L

  • Yuan volatility, simmering U.S.-China tensions lift JPY nL1N2H30PS

  • Losses limited, increased chances of clear Biden win reduce JPY haven appeal

  • Broad 105.00-106.00 range to prevail as traders await fresh catalysts

  • Support 105.20-30, 105.00-5, 104.80-85; resistance 105.60, 105.80, 106.00-10

  • For more click on FXBUZ


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Source:
Refinitiv IFR Research/Market Commentary

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