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Feb 11 - 07:55 PM

USD/JPY - Tokyo Return To Familiar Levels With Risk Resilient

By Andrew M Spencer  —  Feb 11 - 05:58 PM
  • Flat after closing up 0.15%, gently bid from the European open

  • Tokyo return to familiar levels in USD/JPY, U.S. stocks and UST yields

  • Unless there is news, range trading into the weekend looks likely

  • Charts; uptrend stalled at 105.76 last week, which is now pivotal resistance

  • 104.13-18, cloud top and 50% of the 2021 rise are major support

  • Rising Tenkan & Kijun lines are supportive, neutral momentum studies cap

  • Next trending move likely USD led, as details of U.S. stimulus emerge

  • Thursday's 104.55-104.80 range is initial support and resistance

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Refinitiv IFR Research/Market Commentary


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