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Apr 20 - 08:55 AM

USD/JPY - Recovery Facing A Steep Rock; Likely To Falter

By Peter Stoneham  —  Apr 20 - 06:40 AM
  • BoJ's latest Financial Stability Report had little impact

  • Japan's financial system stable but pandemic still having big impact

  • USD/JPY off a new reversal low of 107.98, EBS: steep rock face to climb

  • 30-day MA lower Bollinger initial support at 107.88

  • Major Fibos at 107.86 and 106.90, 38.2% and 50% of 102.863-110.97

  • Marginally firmer U.S. yields offering the dollar some support

  • Close above previous 108.41 low point could trigger more of a squeeze

    For more click on FXBUZ







USD/JY daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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