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Aug 12 - 07:55 AM

USD/JPY - Gold And Stocks Influence USD/JPY - Shorts Nervous

By Richard Pace  —  Aug 12 - 06:00 AM
  • USD/JPY filled offers by 3 Aug 106.47 peak Tues, reaches 106.82 Wed's

  • Dealers say little sign of local supply in Asia - worrying for shorts

  • Options post small panic spurt of topside/gamma demand and raise prices

  • Gold helped broader USD, potentially upset JPY's haven status

  • However, Gold recovering, USD weaker, but stocks up to keep USD/JPY support

  • Next resistance 24 July 106.87 peak and 55-dma 107.01

  • 3-billion option expiries Thursday 106.70-107.30 add resistance nL1N2FE061



JPY=EBS Click here

Source:
Refinitiv IFR Research/Market Commentary

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