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Sep 08 - 04:55 PM

USD/JPY - Falls Back Toward Cloud, 55-DMA As Fed Notes Delta Downshift

By Randolph Donney  —  Sep 08 - 02:36 PM
  • USD/JPY's early 110.45 high on EBS was unwound as Treasury yields slipped

  • Fed's Beige Book notes downshifting of growth nS0N2LF02Q

  • Came after NY Fed's Williams made tapering conditional nL1N2QA1O8

  • 10-yr Tsy yields give up Tuesday's gains and then some, hurt USD

  • But Beige Book also highlighted inflation risks, hawks may highlight

  • Close above the cloud top and 55-DMA at 110.11-10 would be positive

  • Close below, with upper 21-day Bolli by Wed's high, would eyed 21-DMA

  • The 21-DMA and the 100-DMA are at 109.90/77 last

  • Thursday's ECB meeting and weekly jobless claims are next event risks

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Source:
Refinitiv IFR Research/Market Commentary

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