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USD/JPY consolidated above its 100- &....>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY consolidated above its 100- & 200-DMAs on Wednesday as
positive risk environment endured, sapping strength from safe haven currencies.
As a result, the rate printed its best levels in two months.
- There is ongoing speculation surrounding the outlook for the Tokyo 2020
Olympics, currently delayed until next year. Yomiuri reported that Japan
considers scaling back the event.
- USD/JPY last deals at Y108.96, marginally above neutral levels. A clean break
above Wednesday's high/round figure of Y108.98/109.00 would allow bulls to set
their sights on the upper 3.0% Bollinger band at Y109.39. Conversely, a dip
below Wednesday's trough/200-DMA at Y108.42/40 would expose May 19 high of
Y108.09, a former breakout level.
- Looking ahead, Japan's household spending comes out on Friday.

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