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Oct 11 - 04:55 PM

USD/JPY - Biggest Gain Since May, Highest Since 2018 As Haven Yen Buckles

By Randolph Donney  —  Oct 11 - 02:39 PM
  • USD/JPY up about 1% after buy-stop-fest above 2019's 112.40 EBS peak

  • Current 113.41 Monday high is by 161.8% off October's 110.82 base

  • Bigger targets are the 76.4% Fibo of 2016-20 drop & 2018 high at 114.54-55

  • Daily & weekly RSIs already overbought but no pullback signals yet

  • Post-NFP Tsy yield rise on Fed tightening expectations is the main lift

  • BOJ can't tighten and energy prices are USD/JPY bullish nL1N2R712M

  • Wednesday's U.S. CPI and Fed minutes are the next event risks

    For more click on FXBUZ

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Source:
Refinitiv IFR Research/Market Commentary

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