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Muted Start, Q3 Tankan Survey On Tap

JPY

USD/JPY sits at ¥149.50/60, the pair is a touch above Friday's closing levels in a muted start to the weeks trade.

  • On Friday the pair couldn't sustain a move below the ¥149 handle and retraced its move lower alongside pressure on US Tsys to sit unchanged on the day.
  • The trend outlook for USD/JPY is unchanged and remains bullish. Resistance comes in at ¥149.71, high from October 24 2022, then 150 which is round number resistance. Support is seen at ¥147.82 the 20-Day EMA.
  • On tap today we have the Q3 Tankan Survey. Further out the highlight of this week's docket is Fridays Labour Cash Earnings.

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