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Jun 10 - 06:55 AM

USD/JPY - Upside Seems To Be Limited Ahead Of U.S. CPI Data

By Martin Miller  —  Jun 10 - 04:44 AM
  • This could be a big day for the dollar as large twin risks loom nL2N2NS0CW

  • Dollar could suffer if Fed is proved right on inflation nL2N2NR0KV

  • USD/JPY has traded a narrow 109.45-109.68 range on Thursday according to EBS

  • There is talk of large option related offers in the vicinity of 109.65

  • However, USD/JPY bulls have hope due to recent a "bear trap" nL2N2NS0LU

  • USD/JPY, EUR/JPY 30-day log correlation under +0.5, weak relationship

EBS Flow Data Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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