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Pullback Stabilises at Intraday Retracement

JPY
  • USD/JPY's Treasury-led weakness puts prices further through the European morning lows to briefly put the corrective pullback below the 50% retracement of the uptick off yesterday's 150.27.
  • As noted above, no headline trigger or newsflow to drive the initial Treasury flow and plunge in yields - but that appears the first mover in the latest price action.
  • USD/JPY weakness continues to appear corrective off these levels, with the 20- and 50-day EMA values undercutting at 149.50/148.73.

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