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Sep 27 - 04:55 PM

USD/JPY - Fed-BOJ Policy Split Lift Clears 111, 111.66 July Peak Next

By Randolph Donney  —  Sep 27 - 02:44 PM
  • Nothing but up for USD/JPY since Wed's Fed meeting tipped Nov taper

  • Treasury yields rising on Fed hike expectations the main USD/JPY driver

  • BOJ Gov Kuroda confirms no policy normalization is in prospect nL4N2QT17Y

  • USD/JPY's 2020-21 pandemic drop just an interruption to major base pattern

  • Prices a bit overbought S-T as 2021's 111.66 peak comes into view

  • Decent U.S. jobs data could see 2019-21 highs around 112 cleared in time

  • Good support by 110.53 low on EBS and cleared 61.8% Fibo at 110.54

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Source:
Refinitiv IFR Research/Market Commentary

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