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Jan 12 - 07:55 PM

USD/JPY - Capped By Safe-Haven Flows, As US Inflation Fears Grow

By Andrew Spencer  —  Jan 12 - 06:40 PM

• Steady after closing down 0.2% with the USD up 0.4% after strong US jobs

• Turbulence in offshore markets triggered Japanese repatriation flows

• Japanese Coming of Age Day holiday today, Yen likely led by the USD & risk

• Charts - 5 & 21-day moving averages climb, as momentum studies crest

• Tenkan & Kijun lines edge higher as the daily cloud slips - neutral setup

• 158.88 NY high and 159.51 falling upper 21 Day Bolli band first resistance

• 156.98 21-day moving average and Dec 20 155.97 range base initial support

• Tenkan line has been a magnet for the last two weeks - 157.56 today
Andy


(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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