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Bearish Outlook


W/C July 25, 2022


Long End Bid Dominates Tokyo Trade


Watching The Key Support Zone


Approaching Key Short-Term Support

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DOLLAR-YEN: Fresh wave of demand extends the recovery off European morning lows
(Y112.28) to the Y112.50/55 area. US data scheduled for release this afternoon
from mfg PMI at 1445GMT, followed by ISM mfg at 1500GMT. However, main focus
will be on the US Tax Reform vote with headlines expected after 1600GMT.

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