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Aug 16 - 06:55 AM

USD/JPY - Likely To Make More Gains Without Much Noise From Japan

By Martin Miller  —  Aug 16 - 05:20 AM
  • USD/JPY, this week, breaks 145 with barely a murmur from Japan nL1N39X05G

  • Recall Japan intervened last September when USD/JPY exceeded 145

  • USD/JPY rose to new 2023 high at 145.86, on Tuesday, ahead of consolidation

  • Wednesday has seen a 145.31-69 range, on Wednesday, according to EBS data

  • Japanese importer interest towards 145, exporters towards 146

  • USD/JPY bulls remain focused on a major Fibo just above 146 nL1N39X0HZ

  • EUR/JPY's correlation with USD/JPY high, 30/60-day logs are above +0.70

Source:
Refinitiv IFR Research/Market Commentary

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