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Aug 23 - 08:55 PM

USD/JPY - Opens Softer, But Rising Yield Differentials Support

By Andrew M Spencer  —  Aug 23 - 06:55 PM

  • Steady after closing off 0.55%, as the recent U.S. dollar strength corrected

  • Soft U.S. PMI, new home sales undermined sentiment, but UST yields climbed

  • There is no Japanese data or scheduled BoJ announcements, so likely quiet

  • Charts: USD/JPY closed above the daily cloud, maintaining the topside bias

  • Daily momentum studies conflict, which suggests consolidation is possible

  • 136.39 daily cloud top and 135.82 NY low are initial significant supports

  • 137.64 NY top then 137.70 Tokyo high on Tuesday are first resistance

    For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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