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Thomson Reuters
Nov 21 - 02:36 PM
USD/JPY's Holiday Reprieve From Derisking Sales Looks Limited
First appeared on eFXplus on Nov 21 - 01:20 PM
  • USD/JPY up with stocks, Tsy yields, EMs on holiday book-squaring
  • Reversion to daily tenkan/50% Fibo at 113.25 is doable
  • But USD got no help from today's soft econ data
  • Nov drop in 10-yr Tsy yields, Fed pricing got overdone, correcting
  • Japan Oct CPI tonight, but core, core seen steady at 0.4% y/y
  • Nov Markit PMIs Friday. Trump-Xi month-end meeting is main focus
  • USD/JPY's 100-DMA by daily Cloud base at 112.16 is key support
  • Hefty IMM net spec JPY shorts need trade truce to avoid being squeezed

Chart: Click here

Source:
Thomson Reuters IFR Markets

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