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Nov 04 - 08:36 PM
USD/JPY - Tokyo Return To Familiar Levels, Kijun Line Pivotal
First appeared on eFXplus on Nov 04 - 06:30 PM
  • Flat as Tokyo return from the long weekend, after closing up 0.4%

  • Higher UST yields and broad based USD strength behind the JPY bounce

  • No significant Japanese data or BoJ events, so likely focus on risk/stocks

  • At familiar levels, horizontal Tenkan & Kijun lines suggest consolidation

  • Close below 107.88 Kijun line, a base last week, would be bearish

  • 108.36 NY low then 108.00-10 700M strikes are initial supports

  • 108.65 NY high then 109.03 200 DMA are first resistance

  • Tight range trading looks likely, unless there is news

jpy nov 5 Click here

Source:
Refinitiv IFR Research/Market Commentary

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