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Dec 30 - 05:55 AM

USD/JPY - Consolidates Under Last Week's Multi-Month High

By Martin Miller  —  Dec 30 - 04:29 AM

(Fixed charts)

• USD/JPY has seen a 157.65-158.07 EBS range, on Monday, according to EBS data

• Recall spot hit 158.09 on Thursday, the highest level since July

• Sustained trading above the 156.68 Fibo, highlights the underlying bull bias

• 156.68 Fibo, a 76.4% retrace of the 161.96 to 139.58 drop

• Dollar underpinned by rising U.S. yields, including against yen

• EUR/JPY is much higher than where it opened this month at 158.10

• Note the euro usually climbs against the yen in December

Daily Chart:


Daily Chart


(Martin Miller is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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