By Randolph Donney — Apr 07 - 03:11 PM
USD/JPY's 109.58 EBS low held above important supports at 109.40/38/35
Those props are the 21-DMA, last week's low and 61.8% Fibo of 108.34-10.97
FOMC minutes were about as expected, but less dovish than some feared
That allowed longer-term Treasury yields to hold the day's modest gains
Focus now on weekly jobless claims and Fed Chair Powell's speech Thursday
USD/JPY still working through heavily overbought weekly RSIs
And large net spec long positions in the 108.34-110.42 range nL1N2M01MB
Wobbling uptrend needs the uptrend in Treasury yields to resume soon
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Source:
Refinitiv IFR Research/Market Commentary