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Apr 26 - 04:55 PM

USD/JPY - Flirts With Bigger Correction, But BOJ, MOF Not Obliging

By Randolph Donney  —  Apr 26 - 02:40 PM

  • USD/JPY fell to 127.03 before recovering some risk-off losses

  • The low held just above the Apr. 19 on-close pivot point low at 126.98

  • Prices now back above tenkan and 10-DMA at 127.26/45 on EBS

  • Hasn't been a sub-10-DMA or pivot pt close since Mar. 4's at 114.65

  • Tsy-JGB yields down as Tsys sought for safety amid global derisking

  • Japan's PM said BOJ should stay ultra-loose nL2N2WO1H9

  • And the FinMin denied joint intervention talk with US nT9N2WH00L

  • Huge net spec USD/JPY long is potential selling fuel, but burden's on bears

  • No change in YCC, rates from BOJ on Thursday

For more click on FXBUZ


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Source:
Refinitiv IFR Research/Market Commentary

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