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Jan 04 - 07:55 AM

USD/JPY - Targets The High 144S After Back To Back Gains

By Peter Stoneham  —  Jan 04 - 05:55 AM
  • Dollar handing back gains to GBP and EUR but extends rally vs JPY

  • Japanese market back from an extended New Year break: happy to sell yen

  • U.S. yields trying to lift again following repeated upside failures

  • BOJ's Ueda: Hopes Japan achieves balanced rises in inflation and wages

  • Technically, dollar looking to a 144.72, a 38.2% Fibo off 151.92-140.27

  • Potential 3 advancing candles pattern: higher highs, closes near the highs

  • However, bull run stalling after the early Thurs climb to 143.90 (EBS)

  • Key level topside at 144.95, Dec. 19 failure high

  • Note the USD 1.2 bln 144.00 option expiry today: could drag on further gains

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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