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Apr 29 - 07:55 PM

USD/JPY - Consolidates After Wild Swings, Focus Shifts To Fed

By Krishna K  —  Apr 29 - 07:05 PM
  • USD/JPY trades a cautious 156.08-156.28 range Tue as Japan markets reopen

  • Consolidation likely after a wild 160.24-154.40 range Mon in thin markets

  • Follows suspected yen-buying intervention by Japan for 1st time in 18 months

  • Authorities more concerned with speed of USD rise rather than direction

  • GRAPHIC-Five charts on the Japanese yen's decades-long drop

  • Sticky U.S. inflation, yawning U.S.-Japan yield differentials support USD

  • Fed rate decision Wed, U.S. payrolls Friday key for direction

  • Fed in a holding pattern as inflation delays approach to any soft landing

  • Japan industrial output, unemployment rate, retail sales due Tuesday

  • Support 155.00-10, 154.40-50, resistance 157.00-20, 157.80

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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