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Corrective pullback away from the........>

DOLLAR-YEN
MNI (London)
DOLLAR-YEN: Corrective pullback away from the recent high of Y109.85 met decent
support in Asia at Y106.90, the level corresponding to the 76.4% retracement of
the recovery from Y105.99 to Y109.85. This support kept USD/JPY in check despite
the market move into risk off following last night's comments from Fed Powell on
post COVID recovery. Recovery efforts so far capped at Y107.23. A break of
Y106.90 to open a deeper move toward Y106.70 ahead of Y105.99. 
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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