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USD/JPY Holding Above Y115.00

JPY

USD/JPY traded as high as Y115.06 around this morning’s Tokyo fix, before backing off and stabilising just above the Y115.00 marker. There hasn’t been much in the way of notable headline flow to drive broader macro sentiment, while markets have thinned out ahead of the elongated Tokyo weekend. Technically, bulls look to initial resistance in the form of the Nov 26 high (Y115.37), with any sustained break there exposing the Nov 24 high/bull trigger (Y115.52). Bulls remain in control from a technical perspective, with bears needing to force a breach of the 20-day EMA to start reasserting some control.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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