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Thomson Reuters
May 27 - 03:48 PM
USD/JPY - Key Fib Eyed Ahead Of Fed Speakers, Data
First appeared on eFXplus on May 27 - 09:30 AM
  • US Q1 GDP (2nd estimate), Apr Core PCE & May Chi PMI due late in week
  • Fed speakers due May 30 & 31, market will look for dovish rhetoric
  • Recent US data has seen downside disappointments, Fed might lean dovish
  • USD/JPY near 38.2% Fib of 104.10-112.40 & below 10-DMA daily RSI rises
  • A close below the Fib & May 13 low will increase bear sentiment
  • 108.15/35 zone then eyed, 107.50/70 will be targeted thereafter

chart: Click here

Source:
Thomson Reuters IFR Markets

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