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Oct 14 - 07:55 AM

USD/JPY - Japanese Importer Bids Could Limit USD/JPY's Downside

By Martin Miller  —  Oct 14 - 06:17 AM
  • Dollar's drop could potentially damage the uptrend nL1N2R936Z

  • Japanese players noted including importers, retail short at highs

  • New near three year highs were set at 113.80 on Wednesday

  • Japanese importer bids are said to start at 113.00, right by Tuesday's low

  • USD/JPY has seen a 113.21-59 range on Thursday, according to EBS price

  • USD/JPY versus EUR/JPY 30/60-day log correlations are both well above +0.50

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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