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Dec 03 - 04:55 PM

USD/JPY - Recovery Attempt Rejected As Risk-Off Flows Resurface

By Randolph Donney  —  Dec 03 - 02:48 PM

  • USD/JPY up to 113.61 post-jobs report on initial risk-on response

  • But rise in Tsy yields on plunging jobless rate imploded with stocks

  • Markets fear hawkish Fed & pandemic, doubt Fed hikes will last

  • Prices down 0.5% and by Tues's 112.535 post-Omicron low on EBS

  • Lower 30-day Bolli band also at 112.535, offering some support

  • A sub-112.47 close would eye 50% Fibo & cloud base at 112.125/111.90

  • USD/JPY bulls need rate-risk doom loop to end nL1N2SO1ME

  • It might take easing pandemic angst, more confidence in US recovery

  • Also stall, reversal of 2-5-yr Tsy yields spread bear flattening

    For more click on FXBUZ


Chart Click here

Chart Click here

Source:
Refinitiv IFR Research/Market Commentary

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