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Mar 07 - 07:55 PM

USD/JPY - Uptrend Strong - U.S. Treasury Yields Lead Intraday

By Andrew M Spencer  —  Mar 07 - 06:04 PM
  • -0.1%, as profit taking and commercials take advantage of higher levels

  • USD/JPY is up 5% on the year as real and nominal UST/JGB spreads widen

  • U.S. Treasury yields will likely be the key intraday for USD/JPY

  • Plenty of Japan data today - see chart for polls, little likely impact

  • Charts; 5, 10 & 21 daily and weekly moving averages trend higher

  • Strong positive setup targets a test of 109.56, 76.4% Mar-Jan fall

  • Rising Tenkan and Kijun lines support - 106.52 Kijun line pivotal support

  • NY 108.10-108.64 range is initial support-resistance

    For more click on FXBUZ





















jpy mar 8 Click here

jp data mar 8 Click here

Source:
Refinitiv IFR Research/Market Commentary

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