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May 26 - 04:55 PM

USD/JPY - Up On Broad Dollar Recovery, With Late Lift From Treasury Yields

By Randolph Donney  —  May 26 - 02:48 PM
  • USD/JPY's up 0.34% and at its highest in four sessions

  • Rebound in the broadly oversold dollar aiding today's gains

  • A late rebound in Tsy yields sees tenkan & cloud top at 109.11/17 breached

  • Close above the cloud would target May 19's 109.33 high on EBS

  • That's a tick below the broken up TL from Jan, Thursday at 109.34

  • Tightest 10-day Bollis and lowest 2-wk vols since Feb may presage breakout

  • Such a breakout could be triggered by the May US jobs report nL2N2ND1OD

  • Senior LDP lawmaker asked BOJ to up asset buying and weaken yen nL3N2ND124

  • Market coiling for a breakout from May's 108.34-9.785 range

For more click on FXBUZ


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Source:
Refinitiv IFR Research/Market Commentary

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