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Dec 29 - 07:55 PM

USD/JPY - Lower With Softer UST Yields, As Yen Shorts Trim

By Andrew M Spencer  —  Dec 29 - 06:05 PM

  • Flat after falling 1.1%, leading USD lower, as yen shorts trim into year end

  • Potential for hawkish Yamaguchi as BOJ governor gained traction nL4N33J0FV

  • Appointment in April 2023, rumours on the outcome to likely cause volatility

  • No Japan data today or significant BOJ speeches - year end flows to lead

  • Charts; momentum studies conflict, 21 day Bollinger bands head lower

  • 10 & 21 DMAs fall, Tenkan and Kijun lines flat line - net negative setup

  • Bias lower while USD/JPY closes below 135.23 Kijun line, capped in December

  • 130.58 Dec 20 low is initial significant support

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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