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Dec 24 - 11:55 AM

USD/JPY - Rise Above 10-DMA By 103.57 Adds To Bullish View

By Paul Spirgel  —  Dec 24 - 09:46 AM
  • USD/JPY +0.14% at 103.68 holds near top of Thurs slight 103.70-50 range

  • Haven yen offered amid upbeat Brexit, COVID vaccine-related growth tones

  • USD boosted by Watanabe intervention comment if $/yen eyes 100 nL4N2J40W8

  • Yen haven unwinds a slow slog as USD broadly offered caps USD rise

  • $/JPY above 10-DMA 103.57 aids bullish view, though liquidity light

  • Year-end USD bid helps boost pair away from Dec 17 trend low by 102.88

  • Bulls gain momentum abv 104.28, 50% Fib of Nov-Dec's 105.68-102.88 range

  • Trend line off weekly highs since July hints at res at 104.92

For more click on FXBUZ


JPY Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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