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UD/JPY slipped Wednesday amid............>

DOLLAR-YEN
DOLLAR-YEN: UD/JPY slipped Wednesday amid questions surrounding U.S.-China trade
matters. Participants showed concern re: the aftermath of phase-one deal and
took note of what was missing in the signed document. USD/JPY extended its
retreat from multi-month highs printed on Tuesday, but stuck to a fairly tight,
22 pip range.
- The rate last trades at Y109.88, barely changed on the day. It has shrugged
off domestic data releases, including in-line PPI figures & better than forecast
core machine orders.
- From a technical perspective, the outlook remains bullish albeit the
appearance of a shooting star candlestick on the intraday chart on Tuesday may
be worrying for bulls. A sustained fall below the Jan 13/10 lows of Y109.45/44
would shift the focus to the Jan 9 low of Y109.01. Bull need a jump above the
high of Jan 14 at Y110.21 to regain some poise & bring the May 23 peak at
Y110.36 into view.

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