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Leading G10 FX

JPY

JPY strength has crept into broader G10 FX trade, with the yen siting comfortably atop the G10 FX table. USD/JPY is ~35 pips softer on the day, printing around the Y123.50 marker. Headline flow remains light, at best. Note our latest technical analysis piece highlighted that at current levels, USD/JPY is extremely overbought and the most recent portion of the uptrend is very steep. A correction is overdue. Initial support isn’t seen until Monday’s intraday low (Y121.97)

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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