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Dec 02 - 07:24 AM
USD/JPY - Boosted By Upbeat China Data, Technical Outlook
First appeared on eFXplus on Dec 02 - 05:20 AM
  • Chinese manufacturing rebound drives risk appetite, hurts yen nL8N28C1HK

  • USD/JPY's three closes in a row above Fibo keeps bias on 110 nL1N28C051

  • Spot closes were above the 109.37 Fibo, 61.8% retrace of 112.40-104.46 drop

  • In addition to exporter offers, 110 option barriers maybe defended

  • USD/JPY has seen a 109.46-109.73 range, according to prices on the EBS

  • EUR/JPY's correlation with USD/JPY high, 30/60-day logs are +0.70/+0.61

Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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