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Bond and Yen

CROSS ASSET

USDJPY trades off the low after testing the figure at 108.01.

  • The pair could be supported as US yields look to test Friday's high.
  • Over 6k sold in TY as we test lower.
  • Treasuries are mainly taking their cue from Bunds, with the contract hovering near the intraday low
  • Friday's high in US 10yr yield is at 1.5975%
  • Most market will look at 108.00 as initial support in USDJPY.
  • A clear break opens to MNI tech 107.77 38.2% retracement of the Jan - Mar rally.
  • Bund support is still eyed at 170.05 76.4% retracement of the Feb 25 - Mar 25 rally

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