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Mar 31 - 05:55 AM

USD/JPY - Buyers Run Into Solid Resistance Ahead Of 111.00

By Martin Miller  —  Mar 31 - 04:02 AM
  • Dollar rises to one-year high on cusp of 111.00 versus yen nL4N2LT170

  • The USD/JPY chart points to an overshoot above 111.00 nL1N2LT0GL

  • FX traders have snapped up USD/JPY for a bigger bull cycle nL1N2LS0KM

  • Japanese importers were good buyers at Wednesday's Tokyo fix

  • But solid selling to defend the 111.00 option barrier has limited gains

  • USD/JPY has seen a 110.28-110.97 range on Wed, according to EBS data

  • USD/JPY, EUR/JPY 30-day log correlation remains under +0.5

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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