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Thomson Reuters
Jun 01 - 08:36 AM
USD/JPY - Saw Biggest Hourly Range Since May 24 On BoJ QQE Cut
First appeared on eFXplus on Jun 01 - 06:25 AM
  • BOJ cut size of 5-10 year JGBs purchases by 20B to 430B yen nL4N1PS23A
  • This saw USD/JPY trade a 108.74-109.21 (biggest one-hour range since May 24)
  • Those who sold post-BoJ QQE/YCC tweak covered, other weak shorts too
  • Stop fest saw spot eventually rise to 109.25 in Asia, Ldn extend to 109.30
  • Japanese exporters remain on top and are slowing the rise
  • Bulls will likely run into supply at the 30-DMA . US NFPs loom

Hourly Pivot Chart: Click here

Source:
Thomson Reuters IFR Markets

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