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Pares Post-US PPI Gains As US Treasury Yields Tick Higher

JPY

USD/JPY prints at ¥132.50/60, the pair fell ~0.4% yesterday.

  • JPY firmed as US PPI printed weaker than expected, USD/JPY fell ~1% from peak to trough. Support came in ahead of ¥132.
  • The pair pared gains through the NY session as US Tsys ticked away from session highs to finish cheaper on Thursday.
  • Technically yesterday's price action added to the evidence that the latest recovery was corrective in nature. Bears now target a break of low from Apr 10 (¥131.83) which open ¥130.64 the low from Apr 5 and key support.
  • The domestic data calendar is empty today.

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