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JPY: USD/JPY To Fresh Lows for The Week

JPY
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USD/JPY continues to test lower post the Tokyo fix. The pair last in the 150.10/15 region, up around 0.95% in yen terms for the session. We are testing sub 150.19, which is a Fib retracement of the Sep 16-Nov 15 move, while 149.09 is the Oct 21 low, in terms of further downside targets. 

  • Earlier drivers post the firmer than expected Tokyo CPI remain in play. The softer US yield backdrop, with cash Tsys off around 2vps at this stage is also likely helping. 
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USD/JPY continues to test lower post the Tokyo fix. The pair last in the 150.10/15 region, up around 0.95% in yen terms for the session. We are testing sub 150.19, which is a Fib retracement of the Sep 16-Nov 15 move, while 149.09 is the Oct 21 low, in terms of further downside targets. 

  • Earlier drivers post the firmer than expected Tokyo CPI remain in play. The softer US yield backdrop, with cash Tsys off around 2vps at this stage is also likely helping.