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Oct 23 - 02:36 PM
USD/JPY - Bulls Shrug Off Brexit Delay, Eye US-China Trade Progress
First appeared on eFXplus on Oct 23 - 01:20 PM
  • USD/JPY's break of prior 10-DMA support was quickly bought into

  • Back above that MA (108.53) as derisking on Brexit delay reversed

  • Rebound aided by hints US-China trade deal is more likely nL2N2780GI

  • Day's 108.25 lows barely breached Monday's, now up by week's highs

  • USD/JPY's cheap if L-T bottom in Treasury yields confirmed nL2N2780UJ

  • Pair still facing offers into 109 and 200-DMA at 109.08

  • Aug. 1 high and 61.8% of 2019's range at 109.32/36 are key daily hurdles

  • October PMI releases Thursday eyed ahead of BOJ, Fed meets Oct. 30/31

Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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