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Jan 14 - 04:55 PM

USD/JPY - Post-London Swoon Into Powell, Downtrend Caps, 103.50 Props

By Randolph Donney  —  Jan 14 - 02:37 PM
  • USD/JPY rebound attempt again rejected near pandemic down TL nL1N2JP1L3

  • Poor claims data and slip in Tsy yields into Powell event weighed

  • But prices held above the kijun, 10-DMA and tenkan @103.58/57/50

  • Tsy yields, USD/JPY bounced from 103.565 EBS lows after Powell wrapped up

  • Market trying to square average inflation targeting with still low yields

  • Leaves prices in a range being compressed by the down TL at 104.27

  • Focus now on Biden's econ policy speech latter today, sales data Friday

  • See if fiscal-stimulus hopes et al can get prices past 104.27-75 hurdles

  • Stimulus doubts could put 103.50 support in play

    For more click on FXBUZ

Chart Click here

Source:
Refinitiv IFR Research/Market Commentary

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