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USD/JPY Holds Steady This Morning

DOLLAR-YEN

USD/JPY picked up a bid Tuesday, with main focus on the fiscal stalemate on the Hill and negative news from the Covid-19 vaccine front. Although the rate ebbed off highs over the WMR fix and beyond, it finished comfortably in positive territory.

  • The rate sits at Y105.49, almost unchanged on the day. Topside focus falls on Oct 7 high of Y106.11, with next resistance coming up at Y106.38, the high of Sep 8. Bears look for a dip through Oct 12 low of Y105.24, before targeting Oct 2 low of Y104.94.
  • Final Japanese industrial output is due later today.

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