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Sep 17 - 08:36 AM
USD/JPY - FX Traders Buying USD/JPY Since Late NY Monday Flow Data Shows
First appeared on eFXplus on Sep 17 - 06:30 AM
  • FX traders have been buying USD/JPY since late NY, through Asia into London

  • EBS flow data shows bouts of decent buying which has taken the market higher

  • 108.43 Fibo, a 50% retrace of the 112.40 to 104.46 down-leg, is in focus

  • Despite the bid bias, bulls should beware the "cloud twist"

  • Spot has seen a 108.03-108.37 range on Tues, according to prices on the EBS

  • EUR/JPY's correlation with USD/JPY high, 30/60-day logs are +0.78/+0.73

EBS Flow Data Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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